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