Near 105 $USDJPY will complete a daily bullish AB=CD pattern. As you can see above, the equal distance legs reach just above 105 and the Fib confluence zone that forms the PRZ is right near 105.
Perfect PRZ for a daily AB=CD pattern right on top of the 200 weeks MA
107.5 (previous low) is the first target zone you should set if you wish to trade this potential bullish swing trading opportunity. Short term trades should probably just focus on 105 and seek for smaller time frames reversal patterns to try and catch intraday rallies from this weekly harmonic support zone.
Tomer, The MarketZone
This analysis is part of the Weekly Markets Analysis newsletters
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Perfect PRZ for a daily AB=CD pattern right on top of the 200 weeks MA
107.5 (previous low) is the first target zone you should set if you wish to trade this potential bullish swing trading opportunity. Short term trades should probably just focus on 105 and seek for smaller time frames reversal patterns to try and catch intraday rallies from this weekly harmonic support zone.
Tomer, The MarketZone
This analysis is part of the Weekly Markets Analysis newsletters
To read more interesting technical reviews for the week goo.gl/3JPebo
To subscribe to the newsletters - goo.gl/HXjCPV
Follow my blog - goo.gl/78KZsl
Subscribe to my Youtube channel - goo.gl/q8dbyT
Nice winner last week.. looking for another entry in the coming weeks