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