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USD/JPY in forming C leg, looking for rebound

USD/JPY in forming C leg, looking for rebound

 

USD/JPY after ended its 5th wave at around 113.118 has been retraced and  now it has been trading in a corrective phase ABC and the C leg thereof is probably in forming now, which in a 5 3 5 pattern to recognize. I think in a technical point of view, the support levels at around 109.1xx – 110-3xx are well established.

So looking for following levels to trading with this pair in the coming time:

  • short term sell to 109.2xx level
  • looking for support at 109.1xx level and take a buy from there for a rebound

Take your look at the depicted chart below for more reference:

Click on the play button to see how the live price develops 



USD/JPY in forming C leg, looking for rebound by NamMinh on TradingView.com

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