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U.S. Dollar / Japanese Yen
Long

USDJPY Bearish butterfly harmonic pattern

By ShaneHuynh
Updated
USDJPY is forming a bearish butterfly harmonic pattern. My intention is to trade the last trendline from C to D. To support the pattern, point C also confluence with the lower trendline of the broadening bottom formation. Consider enter your trade once price bounces off the trendline and starts to move upward.

Trade setup is on the chart
Trade active
95% of take profit 1 is completed. Cash out 1/3 of your position if you feel good enough
Comment
moving your sl 10 pips above your entry to secure
Trade active
target 1 is reached. Price is parking around 110.41 to regroup. next target might be reach within London session open.
Comment
Target 2 is reached. minor retraced. If break above 110.60s will continue to move to target 3. Then, harmonic pattern is completed
Trade closed: target reached
Target 3 reached.
Chart PatternsHarmonic PatternsTrend Analysis
ShaneHuynh
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