Trader, analyst and instructor with a 6-year experience

USD/JPY: Elliott waves (Mar. 31)

By Roman Petuchov

Daily. We are seeing the formation of the rising impulse (V) within which there’s a protracted corrective wave IV.

Chart. Daily USD/JPY

H12. Wave IV is taking form of a very complex wave pattern. Most likely, it’s a triple Zigzag, which is close to completion.

Chart. H12 USD/JPY

H4. Next week we expect the impulse C of (B) to complete, and the pair to start forming the downward impulse wave (C) of [y] of IV. Approximate trajectory is shown at the picture.

Chart. H4 USD/JPY

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