Waiting for a daily candle to close above 114.893, will be looking for either (1) an engulfing candle or (2) a break and retest of structure high. Not much to it besides basic price action and pivot points. The current consolidation inside the yellow zone leads me to believe a bullish trend will commence here in the next few days.
Areas of interest will be the .618~.786 fib retracement of previous structure, previous structure high, quarterly R1 pivot that was never touched, as well as the current quarterly R1 pivot.
Very Nice! I see what you are seeing aswell. However, i would want to wait before buying in this case along with othe xxxjpy pairs as they are showing sell signals. And if you look at your chart and market movement ,it almost looks like the right shoulder, and could be double topping! Imo,wait for closure and see if we break upwards and get a retest nefore launching upwards as you can see it is a Extreme level. Cheers mate