Trader, analyst and instructor with a 6-year experience

USD/JPY: wave analysis (Mar. 17)

Roman Petuchov for FX BAZOOKA

Daily. USD/JPY keeps on forming the impulse wave (V).

H12. Construction of the corrective wave IV is not over. After that we'll see a new wave of impulse growth V. 

H4. Wave IV has a form of a comlex wave model. It is recommended to say out of the market until the bullish impulse V starts. In the near term we expect a decline in a descending corrective wave [y]. Keep an eye on the market - unexpected bullish moves may occur. 

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