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Trader, analyst and instructor with a 6-year experience

USD/JPY: Elliott waves (June 2)

By Roman Petuchov

Daily. We are seeing the construction of the long uptrend. At the last section its final part – the upward momentum (v) – is forming.

Chart. Daily USD/JPY

H12. The markup of the impulse mentioned above is shown at the picture. We saw the construction of a very extensive corrective wave IV. Most likely, the construction of the bullish impulse V has already begun.

Chart. H12 USD/JPY

H4. The pair has formed the first 2 waves, which are a harbinger of the upward movement. This week we expect growth within the bullish momentum [3].

Chart. H4 USD/JPY


 

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