This is a revised wave view of GBP/JPY. The present strong rally is wave D up to 175.60, and it will have a Fib.61.8% downward correction with wave E later. Then it goes finally climbing up to 182.80, however it is still a major-wave 4 Nikita FX (climbingfx.jugem.jp)
Inside this huge wedge Formation, wave D (present upward wave since 100.82) will be topping at 107.32 ( 100.82 + (105.44 - 96.93) x Fib. 76.4%=107.32) and wave E will be bottoming at 105.30/40 before Final leg up to 110 low This is a USD/JPY scenario without consideration of wedge breakdown which is not my main scenario. Nikita FX (climbingfx.jugem.jp)
Nikkei 225 is still making wave B top. Wave 3:15942.60---8135.79 Wave 5:16320.22--12415.80 Wave proportion: Wave 5 is 50.01% (Fib.50%) of Wave 3----therefore Wave 5 top at 16320.22 had already completed. So it is now consolidating within the long term resistance line & Wolfe line. Consolidation must finish around mid Nov. Nikita FX (climbingfx.jugem.jp)
USD Index is almost reaching a top at 85.05/10 due to a descending Wolfe line (Pink Line). The Black descending long term resistance line is already lower than Green Line, so even if 85.05/10 would be broken, top Formation would be very soon. Nikita FX (climbingfx.jugem.jp)
This is one more alternate bullish scenario. Flag breakout at 107.38 in two weeks will be going into bullish continuous swing high. The target will be at 117.50 area in this case. Therefore be cautious with closing level of this weekend. A: back to below 105.89---Failure of IH&S neckline breakout (still 3rd time trial----) B: above 107.38---you would take a risk...
This is USD/JPY's alternate scenario 1. Which is a huge IH&S parallel neckline was broken at 105.89. If Weekly closing level will be above 105.89, IH&S target will be at 128.96 because of its vertical width is 2307 pips. I will show you another alternate bullish scenario later. Nikita FX (climbingfx.jugem.jp)
USD/JPY will have a possible wedge breakout target:108.10. Then it goes a small consolidation within the upward wedge. It will also have another bearish wedge breakdown below 96.00 which is going to make a Right shoulder of a huge IH&S later. And finally USD/JPY will be climbing up to IH&S target: 145.75 This is my USD/JPY long term concept. Nikita FX...
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...
USD/JPY is still remaining in risky bearishness as far as being below 106.35/40 Be cautious ! Nikita FX (climbingfx.jugem.jp)
GBP/JPY had completed its Double Top Formation & Parallelogram. The important Red neckline was broken, so another descending target will be at 164.50 Nikita FX (climbingfx.jugem.jp)
GBP/JPY started making a Gap Down due to Scotland referendum in this Asian morning, However due to ABC proportion it is still looking for downward. A: 175.35--170.44: 491 pips C: 173.94--169.69: 425 pips still 66 pips missing. So target will be at 169.03 Nikita FX (climbingfx.jugem.jp)
EUR/JPY is now staying below the 3 resistance lines. If it will enter into the Neutral Zone beyond the Green line, uptrend may be starting later, however ABC proportion since 145.68 is still going on. So it maybe down to 128.47 (Fib.161.8%) or 129.59 (Fib. 150.0%). Nikita FX (climbingfx.jugem.jp)
USD/JPY completed its nice wave proportion within major-B since 100.747 wave A (100.747---104.117: 337 pips) wave C (100.812---105.86/87: 505.5 pips) wave C: wave A x Fib.1.500, however 105.71 was missing 15 pips because it was almost 100 % projection of wave sub-3 within its minor waves ( as wave sub-5) since 101.50 Therefore we should admit wave major-B...
USD/JPY plunged below the Black line, but still within the ascending trend channel. It goes making an ascending H&S or a quartet top Formation, and will plunge into far below the channel. I think it will make one more ascending H&S at lower level later. Nikita FX (climbingfx.jugem.jp)
USD/JPY is now building its long term Bearish wedge Formation. Weekly point (Sep. 05) of Black line (101.43--105.44 connecting line): 106.02 Weekly point (Sep.05 ) of Wolfe line (76.25--84.16 connecting line ): 103.32 Weekly point (Sep. 05) of Purple wedge upper line (94.98--103.73 connecting line): 107.28/30 Wedge crossing point: 109.65 ( 2015.Jun. 22w) crossing...
105.71 of USD/JPY might hit the top of Wave B as an expanded Flat. So I will show you a typical descending Wave C image which will start from NFP's small surprise on Sep. 05. 105.71 minus (105.44 minus 100.75) x Fib.1.618-----98.12 is a target of Wave C. Nikita FX (climbingfx.jugem.jp )
This is not a prediction technical chart. However this shows how EUR/JPY is acting through these two types of trend lines.... Blue line: ascending support line Blown line: descending support line Black line: ascending Wolfe line which is working as a resistance line Pink line : ascending resistance line which is making a parallel channel upper line with Blue...
An actual H&S neckline is the Pink line (172.95 ), however there is an ascending H&S neckline which is the parallel Blue lower line. And it has already been broken at 173.21. Therefore the target downward price will be at 172.36 Nikita FX (climbingfx.jugem.jp)