USD/JPY: weekly wave analysis

by Roman Petukhov.

Weekly. The market keeps moving within a powerful uptrend. Impulse [V] is being formed at the moment; let us consider its markup it in detail on the lower timeframes.

H12. As part of an upward wave, a very complex and long-term upward correction (IV) has been formed, which has taken the form of a double three. The last section has already been marked by a rising within a new bullish impulse (V).

H4. Movement within a new uptrend (V) has begun. Further rising is expected. We recommend you to stick to sales in such a situation.

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