TradingEW
Short

USDJPY downtrend

FX:USDJPY   U.S. Dollar/Japanese Yen
93 3 3
In the middle of larger complex correction {4}, just completed wave b of (a), heading down on an impulse wave c.
1st target wave (1) near 120.00.

Long term view:
snapshot
https://i.gyazo.com/b19ee36a98435824307985c97690aca0.png
Reply
Agreed with the count but the new wave 1 leg which is currently underway can also retrace from end of wave 4 of the prior upleg, So why do you think this wave 1 will retrace to end of prior wave 2..... I'm still learning EW your comments will be highly appreciated
Reply
On the main chart, white c wave is projected below the bottom of wave a since it is potentially a flat correction.
Then, intrapolate (fill-in) the 5 waves of the impulse c wave, you get the approximate targets which will be adjusted and updated with PA.
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