RKchartest
Long

USDJPY Still room to go up

FX:USDJPY   U.S. Dollar / Japanese Yen
167 0 4
USDJPY             still has room to go up while its in its wave 3. Reaching 100% of wave 1 this has qualified wave 3 to be a normal wave and we need to keep a watchful eye for a correction to the 23.6 level here which would signal this is wave 4, tho im doubtful. Anything above 161.8, expect wave 3 to extend to the 200% level. As of right now im eyeing the 141.4 level to match previous support levels.
Comment: If this turns out to be the end of wave 3, then we are looking at a very very likely extended 5th wave. Wave 2 was a complex correction, so likely this should be a a much faster correction for wave 4.
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