Trader, analyst and instructor with a 6-year experience

USD/JPY: Elliott waves

By Roman Petuchov

Daily. The pair keeps forming the narrowing horizontal triangle IV. At the moment this formation is near its end.

H12. Here’s the layout of the final bullish impulse (v). We are now seeing formation of the wave [e] of IV of (v).

H4. The wave [e] represents a double Zigzag (w)-(x)-(y). Next week the pair will likely form the second wave of this double Zigzag (y). The approximate trajectory is shown at the picture.

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