Well, well, NFP was positive and USD/JPY reacted blowing up. This Chart shows us we are now still on wave 3-sub-3-5-5's final stage. Until true wave 4 will be coming, we have one more small leg up. Its target will be at 121.72 (around wedge upper line).
Wave 4 will have not a big plunging in this case. TP 1 is down to Pink Channel upper line (approx. 120.40 ). Max. plunging could reach the Pink Channel bottom line (approx. 118.70).
We will still have Final wave 5.
Tonight, IH&S upper most neckline was broken, so Our long term target: 160 middle has lit on.
P.S.: wave number should be amended like this: 3-sub-3-4-Y should be 3-sub-4-Y And after that, 3-sub-3-(5-1 thru 5-4) should be 3-sub-5-1 thru 3-sub-5-4
Basically I am thinking USD/JPY is in a long-term bullish and never thought bearish with it. (Final target is over 160 as I mentioned already)
My analysis is a thinking way of wave direction which used to be in a short term basis. Every bullish wave has 4th wave.
Pointing out when 4th wave is coming used to be hard especially in this super-bullish Currency pair:USD/JPY. That's it.
Sam0101
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I followed you up many times in this pair. Hope your analysis is worth referencing .
My analysis is a thinking way of wave direction which used to be in a short term basis. Every bullish wave has 4th wave.
Pointing out when 4th wave is coming used to be hard especially in this super-bullish Currency pair:USD/JPY. That's it.