On the USD/JPY daily chart, after a short break “bulls” returned their control over the pair.
Quotes continue to move towards the target 161.8% in the “Crab” inverted pattern. In this situation, traders can buy on pullbacks or on the update of the last peak.
On the USD/JPY hourly chart, 117 can be treated as an intermediate target (224% in the “Deep-sea Crab” and AB = CD patterns). Correction towards support at 113.15 and resistance at 114.75 will be signals for the opening of the long positions.
Recommendations:
BUY 113,15 SL 112,5 TP1 117 TP2 119,
BUY 114,75 SL 114,25 TP1 117 TP2 119.
Origin: Economies
