As you all know, the BoJ changed its rate policy and we observed a wild move. What is interesting is that the magnitude of this bullish move was similar to the one that occurred when Draghi made its announcement back on 3th December. In both cases, the price was very close to its cloud. These things break equilibrium and we are now waiting for the pullback. The price may well go to the current Kijun level and be rejected by this support. If it manages to break the Kijun, it could to the lower part of the pitchfork where it may consolidate for a while before starting a new up trend.
I made this analysis after looking at EverythingForex's idea (see related idea) with an entry optimization in mind for the (iv) wave he proposed. By looking at the Ichimoku, the (iv) wave could start in the zone 130.5-131 after the SSB is broken, of course if the scenario 1 is the one chosen by EURJPY.
I made this analysis after looking at EverythingForex's idea (see related idea) with an entry optimization in mind for the (iv) wave he proposed. By looking at the Ichimoku, the (iv) wave could start in the zone 130.5-131 after the SSB is broken, of course if the scenario 1 is the one chosen by EURJPY.
