ew-forecast

USDJPY UPDATE II : Correction unfolding

FX:USDJPY   U.S. Dollar/Japanese Yen
On the Daily chart we see a correction unfolding in black wave (4), that already reached the fibo. level 0.5 of previous black wave (3). After the correction in black wave (4) is completed, price could turn higher.
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Was thinking along those lines, same with the Nikkei. It rallied too much to be the actual top yet, and then usdjpy started looking like a zigzag down. Wouldn't go long here though.
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Yes I could see final swing to complete the bullish cycle from 2012 low regardless of whether it is 5 wave move of double zigzag in the form of WXY.

The top could be very significant with complete reversal or at least 50% retrace. Thanks for your chart
+2 Reply
I'm glad that we share the same vision here :D

USDJPY May strongly hit the resistance around 129
+2 Reply
You're welcome. We are happy to share our views.
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always nice ,Thanks
+1 Reply
Nice
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I mostly agree but I think that this triangle is actually an example of an e-f-g triangle and that the thrust could actually be done.
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I agree with this view. I am long on this one, target 129.
April 4th http://2.bp.blogspot.com/-DIxRLjjofWo/VSKyLu4xvII/AAAAAAAAA-8/Pwk_IpTMqpg/s1600/USDJPY_4aprilie2015.png
Mai 30th http://2.bp.blogspot.com/-Jwg-Yl6ShXk/VWn8ItyKxoI/AAAAAAAABN4/xVq7xDtQQI8/s1600/USDJPY_30mai2015.png
June 14th http://4.bp.blogspot.com/-ghaBlv84_xQ/VX2r1w9wueI/AAAAAAAABOs/eHFJTHdFzL0/s1600/USDJPY_14iunie2015.png
+1 Reply
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