ewave88

USDJPY doing corrective rebound before final fall

FX:USDJPY   U.S. Dollar/Japanese Yen
76 0 2
After hitting the low of 107.63, it has consolidated upwards to a high of 109.70 and is now in between.
I believe 107.63 was a wave<3> low, and it is now doing a wave<4> correction which can come in a variety of wave counts and patterns.

Currently, my preferred count is this wave<4> comes in the form of waves, of which 109.70 was wave and a sharp fall to 107.80 was wave. Now it should be doing wave which consists of waves-a-b-c as shown. Wave-a was about 165pips. Depending on where wave-b ends (so far the low of wave-b has been 108.78), wave-c could be around the 110.50 level.

If that rally comes, then USDJPY             would have completed wave of wave<4>. From there, it could quickly reverse and fall quickly on wave<5> of wave(5).

Related Ideas

Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out