USDJPY - Short towards 1.10 - minimum R/R 1 : 2

Price is in a triangle for those last 2 years and is now in the last wave E as can be seen in this screenshot.
After a nice fall, price now retraced enough so that a short position can be opened with confidence.

Entry : 1.132
Stop : wave D high.
Target 1 : 110
Target 2 : 108

PS : See my previous post for the higher timeframe view.

PPS : Don't hesitate to comment, like and share :)

Nota

If you want a tighter stop, here is one you could consider.

Nota

Wave C finished (?) just now it seems. Divergence confirms this.

Therefore,
Entry : on channel break preferably
Target : 110 to 108 as said before.
Stop : above C @ 113.46
R/R Ratio : > 1:5 !!!

If you are already shorting, consider moving your Stop above wave C.

ElliottWaveBelgium

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USDJPY - Short towards 110 to 108 - Good Risk/Reward

oleh ElliottWaveBelgium

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ElliottWaveBelgium

Don't forget to like, share and follow !

Questions? Chat or Comment on Ideas
Don't forget my public Telegram channel -
t.me/em16public

Thanks !