USD/JPY is now making a possible triangle Formation to the next move.
In case of simple 4-ABCDE consolidation pattern, next move is upward and its
target will be at 119.54.
On the other hand, in case of 4-B-abcde consolidation pattern, next move is
downward and its target will be at 116.76 which is my favorable one.
However it could be wave 3 declining if it is not a triangle consolidation.
In that case target of wave 3 will be Fib.161.8% projection of wave 1:115.91.
PIPFOLLOWER
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you shocked me. this chart wrong. it will continue downtrend
In case of simple 4-ABCDE consolidation pattern, next move is upward and its
target will be at 119.54.
On the other hand, in case of 4-B-abcde consolidation pattern, next move is
downward and its target will be at 116.76 which is my favorable one.
However it could be wave 3 declining if it is not a triangle consolidation.
In that case target of wave 3 will be Fib.161.8% projection of wave 1:115.91.