Trader, analyst and instructor with a 6-year experience

USD/JPY: weekly wave analysis

By Roman Petukhov

Daily. The ending development of the global upward trend continues. The most important task at this point is to define the completion point of the wave V construction. To this end, let us look at the markup on the lower time frames.

H12. Wave V structure is presented in the picture. A slight upward impulse of the V [5] has formed in the last section. Let us look at its markup.

H4. The impulse [5] is fully packed with the low-level waves. Therefore, the possibiliy of the upward trend ending increases. If the supposition is right, we will see a corrective or impulse decline.

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