USD/JPY: weekly wave analysis
By Roman Petuchov
Daily. The pair continues building an impressive and long uptrend. At the moment there it is constructing a final upward impulse wave (V), which is not complete yet.
H12. In comparison with the relatively small wave II, the wave IV took the form of a very protracted upward correction. It’s a simple horizontal triangle, which is close to completion. At the moment the wave [e] is being formed.
H4. Wave [e] takes the form of a double Zigzag. Now we are seeing a decline in the final impulse C. When it’s over, the pair will begin to rise in the new uptrend V.