MINOR RETRACEMENT BEFORE MAJOR BUY (ELLIOT WAVE)

For USDJPY in the minor timeframe we are currently in a triangle. Within that triangle we seem to be in its LEG D. The legs in the triangle structure usually unfolds as zig zags (sometimes as flats). LEG D of this triangle seems to be unfolding in a zig zag as well. We seem to have completed the first leg 5 wave movement down. Next for the 2nd Leg which is 3 wave movement we seem to have completed the 1st and 2nd Waves of it. Therefore I believe we may see one more push up for USDJPY to complete the 2nd leg of the zig before finally shooting down in another 5 wave movement till the trend line to complete the zig zag subsequently LEG D of the triangle. After that we should see another zigzag (or flat) structure to the UPSIDE for LEG E of the triangle

For the Major timeframe analysis on USDJPY please visit my profile and view the latest post on USDJPY as that gives more of an idea on the DAILY TIMEFRAME

ELLIOT WAVE STRUCTURES
ZIG-ZAG (5-3-5)
FLAT (3-3-5)
TRIANGLE (3-3-3-3-3)