Expecting one more drive down here to complete the lower degree 5 waves of wave 1. Wave A is also usually an impulsive corrective wave so I would expect to see 5 waves, either way signals a higher likelihood of another wave down.
Currently at a 0.764 level and price action is flattening on lower time frames.
I am currently short USDJPY based on analysis of USDOLLAR and JPY both are at .764 retracement and appear to be headed lower.
Comments
Christopher-James
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After the weekend there may be further upside, with forecasts for upcoming data strength as well as Fed rate hike possibilities on the horizon. Watching closely