This is my long term view on USDJPY (Years ahead!):
Short target: 72 JPY
When: April - May 2023
Why:
- I call it "Harmonic Wedge" because:
- Wave 5 on the descending wedge.
- Arc 5 is the next step.
- Fib circles confirms this.
- The golden ratio says the same (a+b)/b = a/b = 1.618.
Long target: 190JPY
When: 2031-2032?
- Wedge potential gives this target.
- Break out (red cross) is confirmed by the golden ratio.
- The vector is also a copy of earlier wave (3-4).
Note! Very often a break out starts earlier and an earlier ascending path could happen.
This is drawed with a dotted arrow. Arc 3 could be the support + local 0.5 fib level.
Short target: 72 JPY
When: April - May 2023
Why:
- I call it "Harmonic Wedge" because:
- Wave 5 on the descending wedge.
- Arc 5 is the next step.
- Fib circles confirms this.
- The golden ratio says the same (a+b)/b = a/b = 1.618.
Long target: 190JPY
When: 2031-2032?
- Wedge potential gives this target.
- Break out (red cross) is confirmed by the golden ratio.
- The vector is also a copy of earlier wave (3-4).
Note! Very often a break out starts earlier and an earlier ascending path could happen.
This is drawed with a dotted arrow. Arc 3 could be the support + local 0.5 fib level.
Comment:
My Mid term idea. It may delay the downtrend a "bit":
