FX.co ★ Trading idea for USD/JPY - the target is the value of 106!

Good afternoon traders!

An elliot wave has been formed in the USD / JPY trading chart. If we consider the short-term movement this July as an internal wave A of the large ABC wave pattern, then the quotes fell yesterday by 50% and closed with a pin bar in the trend.

In such a situation, it is best to sell positions in order to update the bull market to a quote of 106. Such an idea is based on the Price Action and Stop Hunting strategies.

Good luck and have a good day!