usdjpy m-term BUY setup

looks like we finally comlete our 4th wave(yellow).
it's ABC (3-3-5) flat.
wave C has (5) wave structure.(light orange)
wave (3) is an extention.
there is divergence between (3) and (5) wave's bottoms - MACD
(5)th wave trendline is broken - buy signal.
target price is 120.5 (wave1=wave5) in case of 3rd wave is extention.

Comment:

looks like usdjpy needs some correction before moving up

Comment:

we need a breakout of trendline, which connects (2) and (4) wave's ends as a confirmation of entire buy setup and 5th major wave unfolding.

major wave 2 last 2 month.
major wave 4 started 15/12/2016. (almost 1,5 month)
wave 2 and 4 should be similar in time.

Trade active:

looks like barrier triangle

Comment:

I'm so tired of this endless correction moves...
wave 2(green) is (a)-(b)-(c) flat combination.
wave (c) is i-ii-iii-iv-v.
wave ii is triangle (a-b-c-d-e)
when we complete wave (c) (5 wave structure), buy it!

Comment:

If prire does not break through that trendline, there is a possibility a a big decline move, which may hit 111.5 (38% retracement). it's (5) wave extention scenario.

Be cautious!
wait for trendline breakout, after that it should make a flag, only then buy flag breakout!
good luck!

Trade active:

well!
wave C(yellow) structure is finally broken
looks like buy signal.

safe long entry will be after price makes a flag and then breaks it.

good luck!

Trade active:

looks like predicted correction is comleted.

look for a flag breakout for confirmation of buy signal

Comment:

possibility of hitting 113.91 target still exists.
be cautious!

Comment:

usdjpy hit 61.8% retracement(112.5 - 115.36 move)
looks like sell targets is reached.

Comment:

ending diagonal forming?

Comment:

looks like wave 5 trunction.
wave (c) trendline is broken.
possible buy signal! (volumes was up on this breakout)

Trade closed: stop reached:

usdjpy has broken a structure

usdjpy has still not reached at least 38,2% retracement (111.56) (26.09.2016-15.12.2016 move). - wave 3.

Comment:

close look at structure breakout

Comment:

looks like 1st wave extention scenario is in play.

2 wave inside wave C(yellow) is done.
now 3rd wave unfolds.
SELL targets 111.56, 109.23, 107.3