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USD/JPY: Elliott waves (Jan. 27)

Daily. USD/JPY keeps forming ascending impulse wave (V) of [v] of 1. This wave isn’t complete yet, so consider a more detailed layout of the site.

Chart. Daily USD/JPY

H12. We are seeing the formation of wave IV. It’s very likely that it will continue enfolding this week.

Chart. H12 USD/JPY

H4. Presumably the wave IV is taking the form of a double Zigzag. Waves [w] and [x] look fully formed. In the near future we may see growth in correctional wave (B), and then a final impulse decline in the wave (C). The approximate scheme of movement is represented at the picture.

Chart. H4 USD/JPY

Roman Petuchov for FBS

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