USDJPY - POTENTIAL BULLISH CONTINUATION SETUP
Hi Traders,
The USDJPY reversed from a key support level that lined up with a daily ascending trendline then broke out of a resistance level.
.
The impulsive breakout labeled wave (i) blue is most likely to be part of wave 3 of larger degree.
.
Currently, the price seems to be building wave (ii) of 3, and it has the potential to move up towards wave (iii) target as planned on the chart.
.
We will wait for the corrective structure to reach our confluence area indicated on the chart then look for a breakout of the blue Counter Trend Line (CTL) for a long entry.
.
What's your thought about USDJPY? Let me know in the comment.
.
Wish you all a great trading week.
Veejahbee.
The USDJPY reversed from a key support level that lined up with a daily ascending trendline then broke out of a resistance level.
.
The impulsive breakout labeled wave (i) blue is most likely to be part of wave 3 of larger degree.
.
Currently, the price seems to be building wave (ii) of 3, and it has the potential to move up towards wave (iii) target as planned on the chart.
.
We will wait for the corrective structure to reach our confluence area indicated on the chart then look for a breakout of the blue Counter Trend Line (CTL) for a long entry.
.
What's your thought about USDJPY? Let me know in the comment.
.
Wish you all a great trading week.
Veejahbee.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.