Ichimoku MTF Analysis
Pair: USDJPY
Weekly : Bearish - Corrective Wave
Daily: Bullish - a-b-c wave.
H4 : Bullish - Up trend channel.
Outlook: On Weekly and Daily TF, USDJPY making the corrective wave (a-b-c wave) of bearish impulsive wave. On H4, pair still move within up trend channel. Down trend may continue if a-b-c corrective wave complete and to test the previous support at 106.75.
Trading Plan: Believe a-b-c corrective pattern complete in Daily TF. Looking for breakdown and close below 110.27 to enter short with SL at previous high at Wave 'c'. Target is at 106.75, minimum profit is 1:2 risk:reward.
Pair: USDJPY
Weekly : Bearish - Corrective Wave
Daily: Bullish - a-b-c wave.
H4 : Bullish - Up trend channel.
Outlook: On Weekly and Daily TF, USDJPY making the corrective wave (a-b-c wave) of bearish impulsive wave. On H4, pair still move within up trend channel. Down trend may continue if a-b-c corrective wave complete and to test the previous support at 106.75.
Trading Plan: Believe a-b-c corrective pattern complete in Daily TF. Looking for breakdown and close below 110.27 to enter short with SL at previous high at Wave 'c'. Target is at 106.75, minimum profit is 1:2 risk:reward.
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Daily Chart:
