Hello traders
I am posting interesting setups in the market.
USDJPY has been on my radar for some time now. An interesting setup, bear flag might be in progress as WXY correction as wave (4) still unfolding. We are approaching resistance @ 141.00 141.80 . We should not exceed these two levels for pattern to play right. ”
A break above 142.50 142.90 is bearish setup, the count should be revised then.
Target of this patter should be at least offer a rejection to 136.00 133.00 zone, you should monitor price action for any potential bullish reversal. A break below 127.00 level targets 123.50 , 121.60 118.00+/- in extension.
Resistance: 141.10 141.80
Support: 136.00 134.00 130.50 128.60
Invalidation a break above 143.00 + daily or weekly close above it.
Regards
Note: this analysis reflects my own objective and trader should check other analysis. Manage your risk properly.
Regards
