USDJPY 1H – April 14, 2016

USDJPY 1H - April 14 2016

In this chart, we have counted only wave C and it seems like USDJPY is in the “Heart” of the main red wave 3. We target 109.90-110.00 for this red wave 3 to top/complete.

Trying to short wave 3 is never recommended as prices bounce back fast.  A move near 108.50 would be a major red-flag for this structure.

Trade Setup

*A good buy opportunity would be 108-90-109.05 with Stop-Loss: 108.50 and Take Profit 109.90-110.00

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