USD/JPY: Elliot wave analysis
Daily. The pair keeps forming a declining corrective wave 2.
Chart. Daily USD/JPY
H4. We are witnessing the formation of the wave (С) of the Zigzag in the waveа 2. At the moment the market has formed waves  and (2) of (C). If the marking is correct, in the near term we’ll see a strong bearish market.
Chart. H4 USD/JPY
H1. The detailed marking on H1 shows that the wave (2) took form of the А-В-С Zigzag. When this wave was over, we saw a beginning of the powerful movement in the wave (3). The pair will probably keep declining.
Chart. H1 USD/JPY
Roman Petuchov for FBS