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DrFaust_Official

USD/JPY in forming C leg, looking for rebound

Dólar Americano/Iene Japonês (OANDA:USDJPY)  
DrFaust_Official  
OANDA:USDJPY   Dólar Americano/Iene Japonês
Wave Analysis Elliott Wave
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waveanalysis elliottwaves

USD/JPY after ended its 5th wave at around 113.118 has been retraced and  now it has been trading in a corrective phase ABC and the C leg thereof is probably in forming now, which in a 5 3 5 pattern to recognize. I think in a technical point of view, the support levels at around 109.1xx - 110-3xx are well established. 

So looking for to trade with this pair in the coming time:

short term sell to 109.2xx level
looking for support at 109.1xx level and take a buy from there for a rebound
Take your look at the depicted chart below for more reference.

Trade well!

m2mfxsignals

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