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USD/JPY: Elliott waves (Apr. 21)

By Roman Petuchov

Daily. USD/JPY is forming the long-term corrective wave IV. When this wave is complete, we’ll see a new uptrend, which will be the wave V.

Chart. Daily USD/JPY

H12. The more detailed markup tells us that the wave IV is complete. This complex wave took the form of a Double Three.

Chart. H12 USD/JPY

H4. The wave [y] took the form of a plane wave. In the last section we see the beginning of growth in the wave V. It’s too early to make the layout of this wave, but we can say that this week we expect the pair to rise.

Chart. H4 USD/JPY

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