nikitafx

USD/JPY long term trend lines are fighting (Nikita FX )

FX:USDJPY   U.S. Dollar/Japanese Yen
1212 0 0
We will have to reconsider USD/JPY's wave counting.
It is now 7th Swing high in total since 75.57, so the present upward wave is the
last one, however I think wave 4 was 103.74--93.78 only. After that wave 5 is going on.
Wave 5-sub-1 was the first leg up since 93.78.
Wave 5-sub-2 was Diagonal ABCDE correction and Wave 5-sub-3 top was 105.44.
Wave 5-sub-4 was ABC correction which failed going below 100.75. Therefore the present
wave is Wave 5-sub-5
A:If total Wave 5 is Fib. 61.8% of Wave 3, the target will be 110.23
B:If total Wave 5 is Fib.161.8% of Wave 1, the target will be 107.69
C:if total Wave 5 is Fib.150.0% of Wave 1, the target will be 106.68

B & C are supposed to be due to the resistance of Blue line.
Then Major-2 declining wave is coming later.

These targets will be only alternate scenario right now.

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