Looks like
USDJPY
is heading for a bearish crab pattern setup. The "D" point is right in a strong support & resistance area. Our entry is somewhere between 112.059 and 111.919. Conservative S/L is above the 0.786 X/A retracement projection, for more risk but better RR S/L can go above the S&R at 112.191.
Target 1 is at the 0.618 C/D retracement which is above point X (S&R). Target 2 is above the 0.382 C/D retracement which is above the S&R of point B.
USDJPY
is heading for a bearish crab pattern setup. The "D" point is right in a strong support & resistance area. Our entry is somewhere between 112.059 and 111.919. Conservative S/L is above the 0.786 X/A retracement projection, for more risk but better RR S/L can go above the S&R at 112.191. Target 1 is at the 0.618 C/D retracement which is above point X (S&R). Target 2 is above the 0.382 C/D retracement which is above the S&R of point B.