USDJPY Bullish butterfly with strong support at D Extension

2015年1月16日

A one hour bullish butterfly is forming with XA127 extension right at the same price level @115.55. Back in December when price hit this level, it went up a few hundred pips. If you look further left, you will see that this is a strong support/resistance level.
I am looking to enter long @115.55, stop @ 115.20, limit @ 116.20 giving a risk/reward of 1:2
The probability is on our side, let's see how this one works out.