Trader, analyst and instructor with a 6-year experience

USD/JPY: Elliott waves (Jan. 13)

Daily. USD/JPY continued the development of the global upward impulse wave. At present, the pair’s forming the final climb, which is a wave (V).

Chart. Daily USD/JPY

H12. The market began to form the wave IV of (V). The correctional wave will most likely end in the area between the 2 horizontal lines.

Chart. H12 USD/JPY

H4. The wave IV is taking the form of a Zigzag. In the near future we expect the pair to continue decline in the impulse wave (C) of IV. When the wave IV is fully formed, the advance will continue in the impulse V.

Chart. H4 USD/JPY

Roman Petuchov for FBS

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