USDJPY Short

2021年5月17日

USDJPY, we see a potential Gartley pattern developing on USDJPY. The traditional entry would be at 0.786(110.22), But the most important rule of Gartley is AB=CD, which occurs at the 0.886 (110.57). The is also close to the March Close, meaning a lot of sell orders will be stacked there. Another reason for entering this would be that a deep correction (50% of the uptrend from 102) has not occurred yet. Elliot wave count also confirms my bias that we should have a truncated wave 5 because the B wave will also end at 110.572 using the AB=CD rule