Dollar/Yen (USD/JPY) - Bullish Cycle - Primary 5
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Dollar/Yen (USD/JPY) has completed Intermediate Wave X (red), as per our previously posted analysis.
Intermediate Complex WXY Structure is about to complete with Intermediate Y (red) finalizing its 5 Minor Waves (blue) Pattern.
With Intermediate Y (red) coming to an end, so will the 4th Primary Wave (purple), leaving room for a continuation of the Main Up-Trend, with Primary Wave 5 (purple) shooting for new highs.
Dollar/Yen (USD/JPY) declined in Intermediate Y (red) with an extension in Minor 3 (blue) and a Running Flat Structure in Minor 4, which leaves us to the idea that Minor 5 (blue) is preparing to end its Cycle at the 61.8% Fibonacci Extensions of Minors 3 & 4 (blue).
108.50 & 107.50 Levels carry quite a Solid Support, as they also represent 100% Fibonacci Extensions of Intermediates W & X (red), projecting the end of Intermediate Y (red).
The Levels also represent a Vibration Area and a Point of Interest for Buyers, at the 50-61.8% Fibonacci Retracements of the previous Major Up-Trend.
Moving on towards a more accurate measurement, within Minor 5 (blue), we will most likely be having what it seems to be a last small drop for Minute V (black), and for the Dollar/Yen (USD/JPY), towards the above mentioned levels.
Thus, we are looking at a very possible Trend Reversal and Continuation for the Main Up-Trend.
At the mentioned Area, a Bullish Divergence will most likely appear and confirm this Bullish Signal.
Dollar/Yen (USD/JPY) - BUY Positions:
Aggressive Entry - 108.500
SL - 107.350
Moderate Entry - 107.500
SL - 106.300
Conservative Entry - 106.500
SL - 104.700
* Safety measurements:
- when in the green, move SL in profit or at break-even
- watch for Bullish Divergence and get in on confirmation
Many pips ahead!
Intermediate Complex WXY Structure is about to complete with Intermediate Y (red) finalizing its 5 Minor Waves (blue) Pattern.
With Intermediate Y (red) coming to an end, so will the 4th Primary Wave (purple), leaving room for a continuation of the Main Up-Trend, with Primary Wave 5 (purple) shooting for new highs.
Dollar/Yen (USD/JPY) declined in Intermediate Y (red) with an extension in Minor 3 (blue) and a Running Flat Structure in Minor 4, which leaves us to the idea that Minor 5 (blue) is preparing to end its Cycle at the 61.8% Fibonacci Extensions of Minors 3 & 4 (blue).
108.50 & 107.50 Levels carry quite a Solid Support, as they also represent 100% Fibonacci Extensions of Intermediates W & X (red), projecting the end of Intermediate Y (red).
The Levels also represent a Vibration Area and a Point of Interest for Buyers, at the 50-61.8% Fibonacci Retracements of the previous Major Up-Trend.
Moving on towards a more accurate measurement, within Minor 5 (blue), we will most likely be having what it seems to be a last small drop for Minute V (black), and for the Dollar/Yen (USD/JPY), towards the above mentioned levels.
Thus, we are looking at a very possible Trend Reversal and Continuation for the Main Up-Trend.
At the mentioned Area, a Bullish Divergence will most likely appear and confirm this Bullish Signal.
Dollar/Yen (USD/JPY) - BUY Positions:
Aggressive Entry - 108.500
SL - 107.350
Moderate Entry - 107.500
SL - 106.300
Conservative Entry - 106.500
SL - 104.700
* Safety measurements:
- when in the green, move SL in profit or at break-even
- watch for Bullish Divergence and get in on confirmation
Many pips ahead!
Nota
108.500 Levels are holding, we are interested to see if 107.500 Levels will be tested as well.Nota
1st Target Reached
Penafian
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