Hi Ellioticians, USDJPY is impulsively breaking above the 111.67 lvl., which is an indication that an a-b-c correction at 101.42 is finished, and that a new 1-2-3-4-5 move is underway. Current recovery can be part of a wave III of an impulse, so more upside is expected. As a side note: in any case be aware of temporary pullbacks along the way; minor pullbacks within wave III.
That said, if the analysis is correct then USDJPY can reach 140.0/148.0 region in the next couple of years, in impulsive fashion (five-wave move).
A break below the 101.42 lvl. would suggest a more complex correction to still be underway down from 125.85 lvl..
Trade well.
That said, if the analysis is correct then USDJPY can reach 140.0/148.0 region in the next couple of years, in impulsive fashion (five-wave move).
A break below the 101.42 lvl. would suggest a more complex correction to still be underway down from 125.85 lvl..
Trade well.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.