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USD/JPY Bullish Wolfe Wave Confluence with ATR

The USD/JPY is recovering from a recent drop and we can see a bullish structure forming on intraday time frame. The structure is a bullish Wolfe Wave where point 4 is between point 1 and 2 and that accounts for a strict bullish Wolfe Wave. Breakout of 113.45 could be a sign for bullish wave towards 113.70 and 114.00. EPA (Estimated Price at Arrival) or final TP per Wolfe Wave rules is the intersecting 1-4 line which points to 115.30 level. If the breakout is confirmed we might see development to EPA over next few days. 114.00 is ATR projection for intraday targets.

Admiral Markets Review

Wednesday, 18 Jan, 2017 / 1:03

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Source : https://admiralmarkets.com/analytics/technical-analysis/usd-jpy-bullish-wolfe-wave-confluence-with-atr

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