What we have here is a "V" Reversal pattern. V reversals are typically patterns. One aspect of V reversals is that both shoulders tend towards symmetry. In this case, there is a expanding on either side of the V. On the left side expanding triangle, you see what happened after the triangle completed. This can be expected on the right side as well. In either case, unless the count is completely wrong, I don't see any way that prices could continue to the down side from here. At least not for the near time. Maybe after the NFP, it's possible. Again, should prices go down more and break the (2) point ( XX point of the ), then my current wave counts will be invalidated and I will need to re-evaluate what is happening from the ground up.
Markets are already hard to predict. More so before the NFP.
This is just another way I have of looking at the chart besides the usual ways. Take it for what it is.
Year-to-date Profits: +5,794 pips.
USDJPY FULL Report (Subscription Required): http://bit.ly/2ttcCTV
This Month In Indexes newsletter: http://bit.ly/2tGqpcy
Want results like this? Join us: http://bit.ly/29x4bfM