Hi traders,
the USD/JPY made a bearish bounce at the resistance trend line (red) as expected. The bearish price action however could be part of a wave 2 (purple).
The USD/JPY will test the Fibonacci levels of wave 2vs1, which could act as a potential support zone for a bullish bounce. A bearish break however below the 100% Fibonacci level invalidates the wave 2 pattern.1
For more daily wave analysis and updates, sign-up up to our ecs.LIVE channel.
Good trading,
Chris Svorcik
Elite CurrenSea
3 Months of Free Signals
Trade with XM via ECS to Get Signals, SWAT & Up to 50% Discounts.
Leave a Reply