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Bullish Zig Zag in USD/JPY 4 hours chart

Thursday, October 27, 2016 12:33
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10-28-2016 12-08-55 AMTrend is up in USD/JPY currency pair, four hour time frame. Based on Elliott wave analysis, price is moving up towards 106.00 round number to print bullish Zig Zag pattern. Medium term support is present at 103.17 price level.

A good idea is to look for a buy trading chance and join an up trend to ride and trade bullish Wave C leg.
However; if price drops below 103.17 support level then I will stop myself from trading and stay out of the market. Next, I will re-do my analysis in USD/JPY 4 hours chart.


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