TimStuyts

USDJPY correction still in play

FX:USDJPY   U.S. Dollar/Japanese Yen
576 0 18
We saw a lot of volatility during the exit polls. Nevertheless, in terms of structure we can consider this to be only noise since nothing changed besides maybe the way how we complete this consolidation for wave (4).
I want to see the USDJPY             settle down and see whether the reversal after Trump speech is for real so it can be considered an impulse for wave (v) of wave (4). If that's the case we will see a consolidation by means of a bull flag which will give us the possibility to buy the continuation.

Below you find my alternative scenario for wave (4) which indicates that we should expect a bearish reversal sooner, once the triangle is complete once wave E is in place.
snapshot

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