Here too there was a bit of dollar strength this week. USDJPY has been correlated with “risk on” lately, so its rally on Friday given a “risk off” environment is telling. We’re looking for prices to reach 124.36 which is the point where wave (5) would be equal to the largest point of wave (4) (The distance from (3) to A.). We’ll also look at critical near term support as Friday’s low, although it would take a drop below 118.62 to derail the current count.
Read more on the TraderSkillset website | The Force is Strong | http://traderskillset.com/force-strong/
Read more on the TraderSkillset website | The Force is Strong | http://traderskillset.com/force-strong/