Currency Analyst since 2010

USD/JPY: weekly wave analysis

Daily. The pair keeps forming the end of the convergent horizontal triangle IV. In the near future it will be completed, and then new growth in impulse V will begin.

H12. The triangle is almost fully staffed with all necessary waves. Consider the layout on H4 to determine where it will end. 

H4. The wave [e] is taking form of the Triple Three. We are seeing a decline in the final Zigzag ABC of (z). This week we expect a slight decrease in the wave C, after which can start a new uptrend. Be cautious in trading this currency pair, as forecasting the end of the horizontal triangle is a very difficult task.


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