Currency Analyst since 2010

USD/JPY: weekly wave analysis

By Roman Petuchov

Daily. The pair continues building global uptrend. The pair has presumably completed converging triangle IV, and the market has already started to grow in the new wave V.

After completion of the rising wave of impulse [1], we saw a downward correction in wave [2]. When this wave is completed, the growth will continue. 

H4. Markings on the H4 chart show the structure of the internal waves of the last section. We see what a complex shape the waves have. At the beginning of this week the pair is expected to complete correction [2], approximately as shown at the picture. Then the prices will resume growth.

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