EWA-tokyo

USDJPY, Elliott wave analysis

Long
FX_IDC:USDJPY   U.S. Dollar / Japanese Yen
This is my Elliott wave idea about USDJPY , 4hr.
Wave ⅳ was "Expanded Flat" and completed.
I think we are probably on sub-wave 3 of wave ⅴ(shown as Orange-line).
The motive wave of five-wave structures is already appearing.
This motive wave is "Diagonal" and sub-wave 1 of wave ⅴ.
Sub-wave 2 of wave ⅴ is Flat.

If the assumption is correct,
This impulse will probably be the Impulse where the wave ⅴ extended.
The wave ⅴ will grow to the level of 117.500.
In this scenario, the stop loss level is 113.765.

■Last time my idea, Dec 22;

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.