7pasos

Up side movement not serious before 101.35

FX:USDJPY   U.S. Dollar/Japanese Yen
372 1 0
Even when is possible this scenario due both traditional - technical analysis and elliott wave , there are a few things that makes me be skeptical, as far as now:

Under the traditional technical analysis , the pennant formation, needs to break above the 1035 to be clearly out of the triangle and therefore trigger the continuation formation.

Under the elliott wave technique, seems posible but with very few odds because 1 major reason: observe that in order to force the actual contraction of prices to an elliott wave triangle we must to end the wave 3 at the 95's highs (+-) and then after this retrace of wave 4 the price reduces only som cents the advance of wave 3. This is very un common.

Besides this the lack of corss-over with the momentum says that more correction still needed.
The same you can expect by the channelling guideline.

Therefore here the scenario of a correction about to end, seems not much solid.
7pasos
3 years ago
96.61 is the actual high for wave 3 under this theory
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