This is potentially one of the most important charts regarding direction of markets overall in 2020.
If the large triangle ((wave b) of 2 or B) plays out then 2020 will see USD/JPY head a lot lower towards 95 area.
Trade possibility is selling here at 109.60 with a stop 300 points higher (112.60) and target 1400 points lower (95.60).
Roughly 3.5/1 reward/risk. Longer term trade.
If the large triangle ((wave b) of 2 or B) plays out then 2020 will see USD/JPY head a lot lower towards 95 area.
Trade possibility is selling here at 109.60 with a stop 300 points higher (112.60) and target 1400 points lower (95.60).
Roughly 3.5/1 reward/risk. Longer term trade.