Possible reversal to upside; USDJPY

6 Apr 2016

Daily view of USDJPY.
note the divergence.
it seems that correction is about to end.

6 Apr 2016

Nota

1H view :

6 Apr 2016

Nota

1 H view:

7 Apr 2016

Nota

price broke the lower channel to downside. still we have divergence on 4hr; we have to wait until it make a clear pattern.

22 Apr 2016

Nota

This seems to be end of correction which ends with an ending triangle. this is a type of complex correction. so I'm waiting for a correction and long opportunities.

29 Apr 2016

Nota

updated labeling. UJ went one more down wave.
as you know corrective structures are very complex and as it develops we have to analyze and label it again...

3 Mei 2016

Nota

ready to go...
it seems that now we are at last steps of C wave of flat and wave to upside starts soon.

18 Mei 2016

Nota

price is in the triangular phase.
structurally it can breaks to both directions.
Now, I prefer the short setup because of the divergence, but I'm on long (buy) side for long term direction.
Although I prefer short setup, I would enter long if it breaks to upside, maybe because of today's FOMC meeting (fundamental news), but i will move my stop to break even as soon as possible.
[There are 2 series of labels on chart both can be true, we have to wait to see which one is forming]

23 Mei 2016

Nota

the structure developed like a correction and didn't break the upper trend line and reversed; so i anticipate there is still one more wave to downside to complete the structure

23 Mei 2016

Nota

these are probable moves, I have different strategies for every one of them.
now its not obvious which one is going to form, but i prefer those three correction rather than yellow impulsive one because the first wave which is shown in above chart is more likely a correction.

16 Jun 2016

Nota