#USDJPY Riding intermediate wave (C) down to 93/94 area
The USDJPY made a top at 125.85 in June 2016 after completing 5 primary waves up from 75.57 since 2011, now the pair is an (A) (B) (C) intermediate waves patterns, where wave (A) ended 98.98 in June 2016, wave (B) ended at 118.66 in December 2016 and currently the pair is unfolding in 5 intermediate waves down with an expected target around 93.
The pair can bounce up to 108.50/108.90 this week before finding sellers again.
short play is around 108.50/108.90 with a stop above 111.60 (around 300 pips) and an intermediate target of 93/94 (around 1500 pips).
Risk to reward ratio of 5X
The pair can bounce up to 108.50/108.90 this week before finding sellers again.
short play is around 108.50/108.90 with a stop above 111.60 (around 300 pips) and an intermediate target of 93/94 (around 1500 pips).
Risk to reward ratio of 5X
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