Excuse me for not having published here for awhile but just been very, very busy lately! But to be sure, part of that being busy is busy trading and banking profits! For example, 3 MONTHS AGO, I gave you my SETUP OF THE MONTH and said that we were about to see a MASSIVE MOVE UP in this pair. See this post: . Then I followed that up a week later on Sep. 11th with a projection of the possible pips you could expect from that move up (see this post: tradingview.com/chart/USDJPY/yHN88mNI-USDJPY-Weekly-Update/). I predicted that we could see about +1200 pips or more of profits!
Well, here we are today, 3 MONTHS later and so far we've seen almost +1100 of those +1200 or so pips that I was expecting to see! I hope you LISTENED TO ME! So are we going to see even more pips and possibly see it even go HIGHER??? The short answer is YES! I've already prepared projections that show it. But for now, what we are seeing is the end of the wave iii of 3 coming very soon and then we should see a significant retrace before another strong move higher. Don't jump the gun though! This wave iii of 3 is not exactly done yet!
ANALYSIS
There was a COMPLETED Crab pattern in which prices are now testing its PRZ. Wave count shows that it is in the final minor wave (5) of the wave iii. That wave (5) is not yet complete therefore another reason to think that this wave iii is not yet finished. There is also now solid divergence that has formed but we need to see a solid SELL signal setup to confirm the end of this wave iii.
We are all happy you are back, what is your long term target for the pair? I.e. after the correction in the 107 area
danrindia
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Any Views on GBPJPY?? Will that follow the same or the structure of GBPJPY is completed ??
Suggestion will be appreciated. Thanks for this.
EverythingForex
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@danrindia, there is nothing to suggest its done moving up. No sell setup at this time in GJ. And I have views on 16 pairs including commodities. I don't post them all here but members get constant updates on them. I'm going to be offering a FREE WEEK of access soon for anyone interested in getting a small taste of what my members get. PM me for details.
EsmailBoumrah
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Great charts and think you,but i don't think that USDJPY can rise a little,because we reached 0.618 fib retracement,as well as there's a bearish divergence:
EverythingForex
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@EsmailBoumrah, why would you think that divergence and a simple fib can prevent anything from happening? Those things are nothing but what we impose on the chart and not something prices recognize on their own. I'm sorry to say but if anyone trades simply on the basis of divergence + fibs, then they are likely to be losing trades. Just constructive criticism and my 2 cents.