Hello Traders,
The initial perspective I held regarding this pair has been disproven by subsequent market developments. Hence the need for this update. As it stands, given that we don't have a combination, it appears the ABC correction in wave 4 might have been fully formed and we have now seen the smaller degree wave 1 of larger degree wave 5. If this scenario...
Sometimes Elliot Waves help to make some sort of forecasting looking back to what have happened. It clears out that 105 is strong level and due to some fundamental & tech specs we see impulse in USDJPY which can bring us back to 109 for retest and further ideas.
Dear traders and followers
After a long period of time usdjpy in range, now the time is to go bullish for new high.
Partial Position can be closed on the price of 114.73.
Note: Everything works with good money management.
Note: Please leave comments for any query.
Disclaimer: Trade at your own risk.
Good Luck..!!
