USDJPY is entering a major psychological level @ 102.000 and miraculously it sets up perfectly with the 78.6 reversal ratio of the Gartley pattern that has been forming earlier.
I'm looking to short USDJPY @102.000 with the stop loss @ 102.2 which is just over 88.6 ratio which might be tested in case of other harmonic pattern formations.
My first Profit target would be before the 38.2% retracement of the latest up move from 101.08 to 102.00.
The 2nd Profit target is at the lows of the two previous down moves (101.100)
Generally a major down move in this pair is expected.
I'm looking to short USDJPY @102.000 with the stop loss @ 102.2 which is just over 88.6 ratio which might be tested in case of other harmonic pattern formations.
My first Profit target would be before the 38.2% retracement of the latest up move from 101.08 to 102.00.
The 2nd Profit target is at the lows of the two previous down moves (101.100)
Generally a major down move in this pair is expected.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.