Following a strong momentum caused by the latest data on US employment, USD/JPY bounced back, thanks to the speech of Fed Chairman Jerome Powell.
Now, there is a three-wave pattern (ABC) in which wave A represents the buying pressure in the market. Traders can enter by buying from the 50% retracement level, with stop-loss set at 128.300. Exit by taking-profit on the breakdown of 133 and 136.
This plan is based on the "Price Action" and "Stop Hunting" methods.
Good luck and have a nice day! Don't forget to control the risks.
