Shorting opportunity on USDJPY with the great confluences
USDJPY is entering a major psychological level @ 102.000 and miraculously it sets up perfectly with the 78.6 reversal ratio of the Gartley pattern that has been forming earlier.
I'm looking to short USDJPY @102.000 with the stop loss @ 102.2 which is just over 88.6 ratio which might be tested in case of other harmonic pattern formations.
My first Profit target would be before the 38.2% retracement of the latest up move from 101.08 to 102.00.
The 2nd Profit target is at the lows of the two previous down moves (101.100)
Generally a major down move in this pair is expected.
I'm looking to short USDJPY @102.000 with the stop loss @ 102.2 which is just over 88.6 ratio which might be tested in case of other harmonic pattern formations.
My first Profit target would be before the 38.2% retracement of the latest up move from 101.08 to 102.00.
The 2nd Profit target is at the lows of the two previous down moves (101.100)
Generally a major down move in this pair is expected.