USD/JPY: Elliott waves (Mar. 3)
By Roman Petuchov for FBS
Daily. We are seeing the development of the global wave 1. The pair’s currently forming the wave (V).
Chart. Daily USD/JPY
H12. The price has gone according to an alternative scenario, and last week we didn’t see a strong growth impulse. This suggests that the construction of wave IV still continue.
Chart. H12 USD/JPY
H4. It seems that the wave IV is taking the form of a complex triple Zigzag. In the near future we expect a decline in the third Zigzag [z]. Trade carefully in such a complex correction and follow the rules of money management.
Chart. H4 USD/JPY