USDJPY moving down in price in a possible beginning of a minor wave 3 , in an overall C wave . The 114.50 may be the top and looking for price to move down to various targets 1. S1 monthly pivot @ 109.80 2. Fib .50 of wave B @ 108.80 3. S2 monthly pivot @ 107.30 4. Fib .618 of wave B @ 106.50 5. S3 monthly pivot @ 105.60
Im neutral because price can either form a continuation pattern and keep BEARISH or bounce and reverse BULLISH.....lets see what we get.......good trading Chart updates and trade setups will be updated as needed below....so stay tuned....your comments are needed and appreciated.... CATCH THE WAVE......AND RIDE IT..
USD is falling so UJ has dropped the past week and is nearing a supply zone on the daily. I expect some buyers to come into the market and sellers to unload some positions at these prices causing a retracement and a test of the downward trendline. More direction will be determined upon price action with this TL. Keep it simple.
Hye, So my UJ trading idea going to wait the price retrace and sell at supply zone, and there are 2 target on my list before reaching the Fresh demand zone. If you are going to use this as your trade idea, please keep in mind PLEASE AWARE of YOUR MONEY MANAGEMENT Because this is just my technical analysis. Peace no war Thank you. YatogamiFX