Currency Analyst since 2010

USD/JPY: Elliot wave analysis

Daily. The pair keeps forming corrective wave [b], which is taking the form of an extended horizontal correction.

Chart. Daily USD/JPY

H4. The wave (D) may be complete. If this assumption is true, we will soon see an increase in the wave (E). However, there is an alternative scenario: the decline in the wave (D) continues, as reflected in the following chart.

Chart. H4 USD/JPY

H1. The chart shows the detailed layout of a rather complicated area. You have to be very careful in such a market. Both versions of the upcoming move are shown at the picture.

Chart. H1 USD/JPY

Roman Petuchov for FX BAZOOKA

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