USDJPY about to end its rallyAfter a elongated rally is not rare to find an ending contractile diagonal.
Usually this create a snap reverse.
Usually this pattern exceeds the 1-3 line when form it's 5th wave
In this scenario the 1 to 1.618% proportion for wave 5)) increases the odds of the turning point.
Diagonal
Expanding Diagonal in wave 2Now might be the perfect time to buy to enter right before the strong bullish wave 3. It looks like wave 2 has developed into an expanding diagonal. Here is a zoomed out version of where we are on the longer term:
Here is an example of an expanding diagonal: www.wavetrack.com
NLong
usd trend Euro has great influence on UXY. Several Europe economic indicators have got new higher scores. Recently Euro/USD resists bears attack at 1.3800. Federal Funds Rate is a good indicator to present attraction of USD. At some extent USD is not popular to speculator. Look at this picture, we can see wave five is failed. We can identify wave A easily. Wave A is ending diagonal. Wave B is symmetric diagonal. So we can hope UXY go through a to e. When UXY in e stage, if macd or rsi arise end deviation, we can buy USD.



