USD/JPY: Elliot wave analysis
Daily. The wedge is complete and global corrective wave 2 is now enfolding. This wave may take a form of a Zigzag or a double Zigzag. Let’s examine its structure in detail.
Chart. Daily USD/JPY
H4. We are witnessing the formation of the first (a)-(b)-(c) Zigzag. We assume that the waves (a) and (b) are complete and the wave (c) has already started forming. At the moment the downside impulse wave  of (C) is still developing.
Chart. H4 USD/JPY
H1. Watch the detailed marking on H1. We expect the continuation of the monotonous decline in the wave .
Chart. H1 USD/JPY
Roman Petuchov for FBS