USD/JPY: yen is hunting for crabs

USD/JPY: yen is hunting for crabs

2019-11-11 • Updated


BUY 111.45 SL 110.90 TP1 112.45 TP2 112.85 TP3 112.95

SELL 110.15 SL 110.7 TP1 109.15 TP2 108.15 TP3 107.15

On the daily chart, bears are trying to keep USD/JPY inside the long-term downtrend channel. If they succeed, the odds of the pair going to 88.6% and 161.8% targets of the “Bat” and AB=CD will increase.

USDJPY daily.png  

On H1, a break of resistance at 111.45 will allow buyers to counting on formation of the junior “Crab” and “Wolfe waves”. On the other hand, a decline below support at 110.15 will open the way down to 161.8% target of the senior “Crab”. 

USDJPY h1.png


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