Potential Gartley pattern near 100
USDJPY that continues to trade inside a daily trading channel is now testing the 101 support zone - Structure zone that can send it higher, back to test the top of the channel near 103.
However, if it'll break below 101 (and below the Fast MA line), USDJPY will probably decline back towards the 100 zone to test the completion zone (the PRZ) of a bullish Gartley pattern - 100.5
Two potential Buy Zones to monitor this trading week - 101.8 and 100.5
Stop loss should be below 101 for the first zone and below 99 for the second zone.
This analysis is part of this week's newsletter (see details in signature)
However, if it'll break below 101 (and below the Fast MA line), USDJPY will probably decline back towards the 100 zone to test the completion zone (the PRZ) of a bullish Gartley pattern - 100.5
Two potential Buy Zones to monitor this trading week - 101.8 and 100.5
Stop loss should be below 101 for the first zone and below 99 for the second zone.
This analysis is part of this week's newsletter (see details in signature)