Bearish crab. Usdjpy. T1 over 200 pips.

20 thg 11, 2016

Very strong impulse leg on usdjpy for last 2 weeks with bearish correction expected this week. This crab pattern is moving into a very tight convergence of fib numbers offering very good risk reward. The terminal price bar on this pattern will likely be very small with fib numbers so tight so one will have to be on alert to get a good entry as price is likely to respond sharply to such tight harmonic resistance. Target 1 is a bearish move of over 200 pips.