USD/JPY: wave analysis for Jan. 26-30
Weekly. The pair keeps forming a powerfulmulti-monthuptrend.At the moment,the pair is buildingthe final partof this trend –an impulse wave[V]. Considerits markup on smaller timeframes.
H12. After the completion of the horizontal triangle [IV], we saw a strong movement up. At the last section a new horizontal triangle is being formed, but it differs from the previous one by its size. After completion of this triangle, the pair will continue growing in the new bullish wave (V).
H4. As part of the triangle (IV) the pair’s building the upward zigzag D, after the end of which we’ll see the formation of a new descending wave E. The approximate trajectory of the upcoming motion is shown at the picture.