USDJPY LONG buy in on pullback.
I apologize my chart is looking a bit crazy today.
So we can see UJ has come to the end of a market at the price 106.84 and we are currently in the 2-3 leg of an elliot wave (the Fib retracements are confirming this). The pullback (the '4' of the elliot wave) is where I will buy in. I'm going to ride the 4-5 wave to the upside.
The pullback should happen quickly (next day or so) because of the big price increase in the 0-1 leg (~160 pips). I do not have a buy limit set so I am waiting for daily pullback at about 108.60 near that quater point . The target range in 120 pips. I will have a SL at 40 pips.
So we can see UJ has come to the end of a market at the price 106.84 and we are currently in the 2-3 leg of an elliot wave (the Fib retracements are confirming this). The pullback (the '4' of the elliot wave) is where I will buy in. I'm going to ride the 4-5 wave to the upside.
The pullback should happen quickly (next day or so) because of the big price increase in the 0-1 leg (~160 pips). I do not have a buy limit set so I am waiting for daily pullback at about 108.60 near that quater point . The target range in 120 pips. I will have a SL at 40 pips.
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