๐โโ๏ธUSDJPY is moving near the ๐ขSupport zone(143.40 JPY-142.82 JPY)๐ข.
๐According to Elliott's wave theory, USDJPY has successfully completed wave A in the ๐ดResistance zone(146.26 JPY-144.94 JPY)๐ด.
๐The structure of corrective waves is Zigzag(ABC/5-3-5).
๐I expect wave B to end at the ๐ขSupport zone(143.40 JPY-142.82 JPY)๐ข, and USDJPY will trend higher again and at least GO UP to the ๐ดResistance zone(146.26 JPY-144.94 JPY)๐ดagain.
๐Position:
USDJPY
Position: Long
Entry Point: 143.429 JPY (Limit Order)
Stop Loss: 142.440 JPY
Take Profits: 4145.852 JPY// 144.414 JPY(RR=1.00)
Risk-To-Reward: 2.45
Please don't forget to follow capital management โ ๏ธ
Please pay attention to the style of opening the position.โ ๏ธ
U.S.Dollar/Japanese Yen Analyze ( USDJPY ), 4-hour time frameโฐ.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post.
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