USD/JPY - Elliot Wave - Fibonacci - H4 + H1 Analise

26 mar 2017

If we look to H4 and H1 time frame, we are able to see that the price are struggling on a sidetrend. Looking into support and resistence zones, we could see on H1 time-frame, three support areas, with two resistence areas. After I analize the elliot wave impulsive and correction phases on the trend(h4 time frame), i could now say, after add on it an interpretation from macd and rsi indicator, that the sellers are getting weak, with that the buyers could now enjoy some space. I hope that after , maybe, some more correction, that the pair could enter in an impulsive wave , for that i hope that the trend pass the 50% retracement level of fibonacci. Will wait to get the markets open again, and then i define my position on this pair.