USD/JPY-Dollar/Yen – Bullish Impulse – Trend Reversal

USD/JPY-Dollar/Yen delivered and finalized our previously posted Bearish Swing for Corrective Minor 2 (green) Wave.
We are now focusing on a BUY Set-Up on USD/JPY-Dollar/Yen due to the fact that Dollar-Index (DXY) bounced from Significant Levels and confirmed our previously posted Trend Reversal.

Corrective Structure Bullet-Points:

• Minor Wave 2 (green) unfolded with its Minute (blue) ABC Structure and stopped at the 78.6% Fibonacci Retracements of Minor 1 (green).
• Minute A (blue) presents an extension in its Minuette (C) (black), hence the reason for Minuette C (blue) being limited towards the 61.8% Fibonacci Extensions of Minutes A & B (blue).
• Minute B (blue) unfolded with a Simple Flat Structure and Minuette (iv) (black) inside Minute C (blue) unfolded as an Expanded Flat Structure.

USD/JPY-Dollar/Yen – Bullish View:

Bullish Minute Wave I (blue) reversed from the 109.10 Levels and delivered so far the first piece of the puzzle, with Minuette (i) (black) unfolding as a Wedge.
Minuette (ii) (black) is expected to end at 61.8% Fibonacci Retracements of Minuette (i) (black), therefore this Levels are to be watched closely, as a BUY Position could be opened if a Support can be confirmed.

USD/JPY-Dollar/Yen – BUY Position:

Entry Level – 109.80

SL – 109.00 & 108.00

TP1 – 112.60 & 113.35

TP2 – 114.40 & 115.00

* Safety Measures:
– When in the green, move SL to break-even or in profit.
– If Conservative, wait for a confirmation from an Impulse on the up-side.