? USD/JPY Builds Wave 4 Correction Before Hitting 110 Resistance ?
April 30, 2018
2 min read
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Hi traders,
the USD/JPY bullish momentum could make one more push up towards the psychological round level of 110, which is also a 38.2% Fibonacci level of the potential wave D (light purple).
USD/JPY
4 hour
This could be a resistance zone where price completes a wave W (pink).
1 hour
The USD/JPY is currently building a wave 4 (green) correction. Price could extend the wave 4 correction towards 108.50 for instance before starting the wave 5. A bullish breakout above resistance (red) could also start wave 5.
Good trading,
Chris Svorcik
Elite CurrenSea
.
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