USDJPY: Down Trend Has Ended? But For How Long?

WHAT A RIDE! A very nice drop from the top that I predicted to happen from 6 months ago, Is it done? Well, for now it is. For now. Now for some profit taking. We should be seeing some retracing taking place here for a good bit of time.

1HR CHART

From here, you can see my breakdown of the subwaves of the recent consolidation price movements. Wave (A) completed and now wave (B) is almost complete. So when it is finished, we should see an impulsive wave (C) begin. There is a COMPLETED Bat which could see this wave (C) off.

4HR CHART

So you see I marked that dramatic fall as a wave III which I have ended around the bottom TL of a larger expanding triangle. Of which I am seeing as the leg C of that triangle. So if that is correct, then the next move is going to be the wave IV retracement. Which might've already begun. There is also a POTENTIAL Bat here which has its' completion point right around a structure zone.


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