Price has reached the harmonic area (109.47) I showed last week.

Check the previous report here

Technical evidence suggests that the cycle down is getting closer to the end. The target for the new bullish cycle is at 114.50 area.

The first trade I am going to take is:

BUY STOP USDJPY 109.70 STOP LOSS 109.40 TAKE PROFIT 110.00

For conservative trading, styles will be better to wait for a clear five wave sequence (up) on the hourly chart.

[DAP hasAccessTo=”4″ hasNoAccessTo=”10″ errMsgTemplate=”” ]
We use Elliott Wave to find the direction of the market and the Wavy Tunnel to confirm and trigger the trades. If you are interested in learning more about Elliott Wave and the Wavy Tunnel, please visit: wavytunnelpro.com
[/DAP]
[DAP hasAccessTo=”10″ hasNoAccessTo=”4″ errMsgTemplate=”” ]
As a lifetime member of the Wavy Tunnel Course, we recommend that you review the modules again. Access the course here: http://elliottwaveultimate.com/login
[/DAP]