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Bulls Taking Action On USDJPY, 261.8% Fibonacci Within Reach

Discussion in 'Technical Analysis' started by Kaitlin, May 12, 2016.

  1. Kaitlin

    Kaitlin Forum Member

    Aug 29, 2015
    Likes Received:
    USDJPY is turning nicely to the upside this week which now looks like a new impulsive wave in action. On the 4h chart we are observing an idea of an extended black wave 3 headed up to the 261.8% Fibonacci level that comes in around the upper red resistance line.[​IMG]

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