omrdoo Posted September 15, 2016 Share Posted September 15, 2016 4 hour The USD/JPY has till now failed in breaking the resistance trend line (red) of the daily downtrend channel. A break above resistance (red) confirms the end of the downtrend and the start of bullish price action. A break below the 100% Fibonacci level of wave 2 (blue) indicates that another wave 2 (purple) is still active. 1 hour The USD/JPY failed to break above the 127.2% Fib level of wave B (brown) and seems to be expanding the correction within wave 2 (blue) via an ABC zigzag (brown). Quote Link to comment Share on other sites More sharing options...
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