jdemunter
Short

Usd/Jpy : Triangle

FX:USDJPY   U.S. Dollar/Japanese Yen
I was looking for a retest of the 115.50 - 117.50 zone, but there is a possibility of a triangle here. The size of this triangle is very small compared to the size of wave A(circle). If this is not triangle wave B(circle) it is probably still part of wave A(circle). Bullish alternative has 114.87 broken to the upside as a double three (wxy) from the 110.96 low and could only be a first wave in a bigger corrective wave B(circle). One last thing i want to talk about is the danger of counting triangles in EW. Triangles can always transform into bigger triangles, double threes or ending diagonals. In the current count, wave D could finish lower for example.
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