Trader, analyst and instructor with a 6-year experience

USD/JPY: Elliott waves (Mar. 10)

By Roman Petuchov for FBS

Daily. We are seeing the final construction of the ascending impulse wave (V).

Chart. Daily USD/JPY

H12. The pair may have completed construction of a complex correction IV. We are seeing the beginnings of the recovery in the wave V. This week we expect growth in this wave, as shown at the picture.

Chart. H12 USD/JPY

H4. The pair will soon form a downward correction to the wave (1). Good buy points are at the end (2). The approximate trajectory is shown at the picture.

Chart. H4 USD/JPY

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