🎌USD/JPY - the market devaluation of the yen will continue ...

11 Jun 2021

●● Mine scenario
● USDJPY (IDC):🕐2W


Time passes, but the Japanese yen is not moving anywhere ...

For more than two years now, I have been successfully forecasting a contracting triangle, after which a decline was expected. I think it's time to change something, for example, as the main scenario, consider the probability of an upward exit from the model. Yes, yes, after weighing all the pros and cons, I came to just such a scenario.

● USDJPY (FXCM):🕐1D


The goals set back in September 2020 are still relevant and are likely to be achieved. The complication of the wave (C) of ((D)) to the ending diagonal is expected.

● USDJPY (FXCM):🕐4h


Provided that the diagonal is formed by the wave (C) of ((D)), I will fix a long position and switch to a short position with an eye on the implementation of an alternative wave count.

●● Alteranive scenario
● USDJPY (FXCM):🕐1W


As mentioned earlier, the scenario in which a decline follows the triangle is now an alternative count. Nevertheless, provided the diagonal is formed in wave (C) of ((D)) and, under certain conditions, at the end of the final wave (E) of ((X)), we will consider opportunities for trading in a short position.

● USDJPY (FXCM):🕐1D



The wave marking in the double circle parenthesis corresponds to the green marking in the circle on the chart.