Currency Analyst since 2010

USD/JPY: weekly wave analysis

Daily. USD/JPY keeps developing a strong uptrend. At the last section the priceincreasesthe mostactive. Consider the details ofthe layout.

H12. The pair’s now forming an upward impulse [3], which is almost completed. When this wave is fully built, the market will go into a correctional phase [4], which may last during the whole week. However, after the end of the wave [4], the price growth will continue. 

The detailed layout of the wave [3] is shown at the picture. It seems that we see extension in wave (5) of [3]. In the coming days we’ll see the correction 4, and then the pair will renew high formed by the wave 5. The approximate trajectory of the upcoming movement is shown at the chart.

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