USD/JPY: Elliott waves (Dec. 23)
Daily. The pair continues building the final upward impulse wave.
Chart. Weekly USD/JPY
H12. The wave III is complete, so we expect a slight corrective decline in wave IV. Most likely this wave will take form of an extended horizontal correction. It’ll likely end between the two horizontal lines.
Chart. H12 USD/JPY
H4. The figure shows the detailed layout of the wave III. The wave  of III is a plane wave (simple figure), while the wave  of III is a sloping triangle (complex figure). All markings, in general, look quite good. In the near future we can expect corrective decline in wave IV.
Chart. H4 USD/JPY
Roman Petuchov for FBS