USDJPY - Potential Trend Reversal

In my opinion, USDJPY finished 4th, and is heading into wave 5. We'st just seen potential breakout of a trendline, looks like consolidation there (potential ABCDE on 1HR chart).

I will be looking for buy in the green box area (0.5-0.618 retr of AB + potential inverted H&S completion).

TP1 - harmonic Target (1.272 of AB + 0.618retr of wave 4)
TP2 - harmonic Target + potential AB=CD (1.618+potential Gartley)
TP3 - inverted H&S target

I am looking forward breaking the top of 118.6 midterm.

Alternative: If we don't hit green box, I am looking for buy stop breaking the 115.5.

Trade resposibly.

评论:

Possible one more down. It has broken the structure, just retested the broken SR zone around 113.7. I expect one more down, before going upward.

Look for divergence on RSI, potential entry zone 1.272-1.618. Also 0.886 retr there.