USD/JPY: weekly wave analysis
Author: Roman Petukhov
Daily. The development of the global and multi-month uptrend is continuing. Consider the layout of the last section of this trend - wave V.
H12. The graph represents the internal structure of the wave V, which consists of five waves, as effeirs the normal pulse. This wave looks totally complete, so in the coming weeks we can see the trending or corrective decline.
H4. It is assumed that after the downward impulse (A), we will see the development of a small upward correction (B). After the completion of this correction, the decreasing in the currency pair will be proceeded as it is indicated in the figure below.