USDJPY - Bullish Impulse - Minor C

USDJPY is preparing to shoot on the up-side, with a Bullish Impulse, ahead of the FOMC (FED).

Expected swing: Minor C (white), of Intermediate (B) (red) completion.

A spike in the Dollar would be expected on the FOMC Press Conference.

USDJPY Tech. Analysis:

* Elliott Wave: Intermediate (A) (red) complete
* Fibonacci Extension Confluence (Minors A-B-C (red))
* Minor B (white) Double Bottom
* Harmonic Pattern: Bullish Cypher
* Bullish Divergence
* 88.6% Fibonacci Retracement

USDJPY Trading Signal:

* Entry @ 134.150
* SL @ 131.00 & 126.000
* TP1 @ 145.00
* TP2 @ 149.855

* Buy Stop Level @ 138.00
* Aggressive Entry @ Market Price
* Conservative Entry @ 133.10

*Safety Measure: when in the green, moving SL to BE.

Many pips ahead!

Richard, the Wave Jedi.

Transaction en cours:

Commentaire:

Minor C (white) has started.

Looking for a deeper retracement with a 61.8% Fibonacci Retracement.

Then I will be able to add longs.

Transaction en cours:

Harmonic is in fact a Bullish Shark for USDJPY.
Revised the Wave Count with a Double Three in Minor B (white).

Commentaire:

USDJPY must shoot from here, otherwise the set-up will take a loss.

Commentaire:

USDJPY still has a chance to go up from here, but it better do it fast, because it's starting to invalidate the bull with each lower low... Not the best set-up...

Commentaire:

Last chance for this to go up.

Commentaire:

I updated the USDJPY wave count favoring a Diagonal.

Read the reply to @Afsars for the reason.

I am still looking for a LONG until further notice.

Commentaire:

Each move up slowly and steadily invalidates the 5th in the Diagonal.

NFP today!

Commentaire:

An Ending Diagonal's purpose is ... to end.