IKJ FOREX

Happy 77th Independence Day.

USDJPY: Long Term Trend is bearish, The pair was being traded at 350 yen per dollar in 1970's and dropped all the way down to 75 level in 2011. it has Completed 5waves and form the divergence. it has broken the Trend line which are signs of some bullish pressure. i am seeing some major correction of ABC pattern towards the upside.

There could be 2 scenarios

1. usdjpy may gain momentum to the upside from current price of 107.

levels to consider:

if the pair breaks 112.50 then it could go all the way up to 125, 135, 175 and 212 over the period of next 20 to 25 years.

or

2. it may test the longer term lower of 75 once again.

levels to consider:
95, 85, 75.

Entry levels:
wait for the breakout of 112.50 and enter long position after confirmation.

wait for the price to go on support areas near 75 there you will find some excellent investment opportunities.

I see this pair bullish for the next couple of decades.

Buy EurJpy above 115.50
SL: Below 113.50
Target1: 123.50
Target2: 129
Target3: 142.40

Buy GbpUsd in between 1.2500 to 1.2550

SL: Below 1.2400

Target 1: 1.2750

Target 2: 1.3440

Target 3: 1.4300

BUY GBPUSD @ 1.2120

SL: below 1.2085

Target 1: 1.23

Target 2: 1.26

Target 3: 1.2850