As can be seen in the attached Monthly chart,the USDJPY pair has closed the month with a bearish engulfing candle pattern.
Seeing as this is on a monthly chart this could point to a long term correction down to the 96 region, with stop losses above the 105.xx highs. This provides a 2:1 win/loss ratio on this trade.
Another question for EW enthusiasts... Could this also signify the end of Wave 5?
Would be interested to hear feedback on this...
Seeing as this is on a monthly chart this could point to a long term correction down to the 96 region, with stop losses above the 105.xx highs. This provides a 2:1 win/loss ratio on this trade.
Another question for EW enthusiasts... Could this also signify the end of Wave 5?
Would be interested to hear feedback on this...