■Outlook of USDJPY on 1W chart.
I modified the Elliott Wave counts of before ideas.
Because, I thought that the waveⅴ on impulse wave would be extended, but the waveⅴ was completed without extension.
We are probably in wave C shown by the Blue line.
Wave C will probably be Impulse.
If the sub-waves are an impulse, it will be five waves.
Sub-waves of wave C are shown Red-line.
The sub-waves (1) and (2) shown by the red line have already been completed.
I think we are currently on wave (3) shown by the red line.
The sub-waves of wave (3)(Red) are shown by the green line, and the sub-waves of the green line are shown by the orange line.
It looks like Sub-wave1 shown by green completed.sub-wave2(green) is probably starting.
The target of sub-wave2 will probably touch the base channel shown by the black dot line and retrace the Fibo level 38.2% of sub-wave1(green).
I modified the Elliott Wave counts of before ideas.
Because, I thought that the waveⅴ on impulse wave would be extended, but the waveⅴ was completed without extension.
We are probably in wave C shown by the Blue line.
Wave C will probably be Impulse.
If the sub-waves are an impulse, it will be five waves.
Sub-waves of wave C are shown Red-line.
The sub-waves (1) and (2) shown by the red line have already been completed.
I think we are currently on wave (3) shown by the red line.
The sub-waves of wave (3)(Red) are shown by the green line, and the sub-waves of the green line are shown by the orange line.
It looks like Sub-wave1 shown by green completed.sub-wave2(green) is probably starting.
The target of sub-wave2 will probably touch the base channel shown by the black dot line and retrace the Fibo level 38.2% of sub-wave1(green).