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justagirllearningtotrade

USDJPY ~450 PIP+ BUY | @ SIGNIFICANT SUPPORT LEVEL

Long
U.S. Dollar / Japanese Yen (FX:USDJPY)  
justagirllearningtotrade  
FX:USDJPY   U.S. Dollar / Japanese Yen
Trend Analysis Harmonic Patterns Chart Patterns elliottwaveprojection elliotwaveanalysis usdjpylong usdjpylongsetup USDJPY
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trendanalysis harmonicpatterns chartpattern elliottwaveprojection elliotwaveanalysis usdjpylong usdjpylongsetup usdjpy
Directional bias is bullish. Currently in a down retracement. I have a buy limit at the weekly 61.8% retracement level @ 107.661. If we pass significant resistance level of 112.439, long term think we are headed to the 161.8% D extension @ 117.223. 112.439 is also the highest level for 2019 and is also the monthly CTL. I will take TP @ 112.439 and wait for further bullish confirmation to re-enter.

Currently price looks like it is having a tough time breaking through the 23.6% retracement level on the 1HR. If momentum continues to the downside, we could see price stall around 1.27% fib level @ 107.295 before we see it reverse.
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