USDJPY LONG OPPORTUNITY
THIS PAIR IS SHOWING STRONG DIVERGENCE BUT I'M CHOOSING TO IGNORE IT FOR NOW AND FOCUS ON THE STRUCTURE. ELLIOTT WAVE ANALYSIS PUT ME IN EXPECTATION OF ANOTHER MOVE UPWARD. MY PRIMARY FOCUS IS THE BROWN CHANNEL OF WHICH I'M AWAITING A CONFIRMATION OF A MOVE TO TOUCH MY LOWER CHANNEL AND POSSIBLE A CANDLE THAT WICK CLIMAX AT MY LOWER BROWN CHANNEL AND CLOSE ABOVE MY BLUE CHANNEL.WITH THIS SET-UP I'M LOOKING FOR TARGETS: 1ST 109.33, 2ND 109.54 (WHICH I'M MORE IN FAVOR OF).
iF PRICE CLOSE SIGNIFICANTLY BELOW MY LOWER BROWN AND BLUE CHANNEL, THEN IT PUTS ME IN PLAY FOR A SMALL CYPHER THAT IS SETTING UP. 108.72 ENTRY WITH TARGET AT 109.33.
IF PRICE PROCEEDS FURTHER LOWER THEN THIS SETUP IS NO LONGER VALID.
iF PRICE CLOSE SIGNIFICANTLY BELOW MY LOWER BROWN AND BLUE CHANNEL, THEN IT PUTS ME IN PLAY FOR A SMALL CYPHER THAT IS SETTING UP. 108.72 ENTRY WITH TARGET AT 109.33.
IF PRICE PROCEEDS FURTHER LOWER THEN THIS SETUP IS NO LONGER VALID.
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