USDJPY - Bullish Impulse - Minor C
Updated
USDJPY is preparing to shoot on the up-side, with a Bullish Impulse, ahead of the FOMC (FED).
Expected swing: Minor C (white), of Intermediate (B) (red) completion.
A spike in the Dollar would be expected on the FOMC Press Conference.
USDJPY Tech. Analysis:
* Elliott Wave: Intermediate (A) (red) complete
* Fibonacci Extension Confluence (Minors A-B-C (red))
* Minor B (white) Double Bottom
* Harmonic Pattern: Bullish Cypher
* Bullish Divergence
* 88.6% Fibonacci Retracement
USDJPY Trading Signal:
* Entry @ 134.150
* SL @ 131.00 & 126.000
* TP1 @ 145.00
* TP2 @ 149.855
* Buy Stop Level @ 138.00
* Aggressive Entry @ Market Price
* Conservative Entry @ 133.10
*Safety Measure: when in the green, moving SL to BE.
Many pips ahead!
Richard, the Wave Jedi.
Expected swing: Minor C (white), of Intermediate (B) (red) completion.
A spike in the Dollar would be expected on the FOMC Press Conference.
USDJPY Tech. Analysis:
* Elliott Wave: Intermediate (A) (red) complete
* Fibonacci Extension Confluence (Minors A-B-C (red))
* Minor B (white) Double Bottom
* Harmonic Pattern: Bullish Cypher
* Bullish Divergence
* 88.6% Fibonacci Retracement
USDJPY Trading Signal:
* Entry @ 134.150
* SL @ 131.00 & 126.000
* TP1 @ 145.00
* TP2 @ 149.855
* Buy Stop Level @ 138.00
* Aggressive Entry @ Market Price
* Conservative Entry @ 133.10
*Safety Measure: when in the green, moving SL to BE.
Many pips ahead!
Richard, the Wave Jedi.
Trade active
Note
Minor C (white) has started.Looking for a deeper retracement with a 61.8% Fibonacci Retracement.
Then I will be able to add longs.
Trade active
Harmonic is in fact a Bullish Shark for USDJPY.Revised the Wave Count with a Double Three in Minor B (white).
Note
USDJPY must shoot from here, otherwise the set-up will take a loss.Note
USDJPY still has a chance to go up from here, but it better do it fast, because it's starting to invalidate the bull with each lower low... Not the best set-up...Note
Last chance for this to go up.Note
I updated the USDJPY wave count favoring a Diagonal.Read the reply to Afsars for the reason.
I am still looking for a LONG until further notice.
Note
Each move up slowly and steadily invalidates the 5th in the Diagonal.NFP today!
Note
An Ending Diagonal's purpose is ... to end.
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