USDJPY wave analysis (still inside BEARISH correction pattern)

Wave 4 is ABC flat (3-3-5) pattern(yellow)
Wave C(yellow) is (1)-(2)-(3)-(4)-(5) (blue)
Wave (1) inside wave C is an extension.

ABC(blue) is wave (2) inside wave C(yellow)
close look at wave3(green)

Major SELL targets are:
111.56 - 38.2% retracement of wave 3(yellow) and 61.8% of wave (1);
109.23 - 100% of wave (1) and 361.8% of wave A(yellow);
107.18 - 61.8% retracement of wave 3 (yellow)
usdjpy still needs correction to move up.
major wave 2(yellow) was lasting for 2 months.
current wave 4(yellow) started on 15 december.
keep an eye on wave structure and major wave breakouts.
it still looks bearish.
market realized that Trump was not joking.
"trump rally" is over.
Wave C(yellow) is (1)-(2)-(3)-(4)-(5) (blue)
Wave (1) inside wave C is an extension.
ABC(blue) is wave (2) inside wave C(yellow)
close look at wave3(green)
Major SELL targets are:
111.56 - 38.2% retracement of wave 3(yellow) and 61.8% of wave (1);
109.23 - 100% of wave (1) and 361.8% of wave A(yellow);
107.18 - 61.8% retracement of wave 3 (yellow)
usdjpy still needs correction to move up.
major wave 2(yellow) was lasting for 2 months.
current wave 4(yellow) started on 15 december.
keep an eye on wave structure and major wave breakouts.
it still looks bearish.
market realized that Trump was not joking.
"trump rally" is over.
Dagangan ditutup secara manual
1st SELL target is reached 111.56 (actual price was 111.59) - 38.2% retracement of wave 3(yellow) and 61.8% of wave (1); nice point to cover profits.
next sell targets are:
109.23 - 100% of wave (1) and 361.8% of wave A(yellow);
107.18 - 61.8% retracement of wave 3 (yellow) .
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Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.