USDJPY wave analysis (still inside BEARISH correction pattern)

2 févr. 2017

Wave 4 is ABC flat (3-3-5) pattern(yellow)
Wave C(yellow) is (1)-(2)-(3)-(4)-(5) (blue)
Wave (1) inside wave C is an extension.

ABC(blue) is wave (2) inside wave C(yellow)
close look at wave3(green)

Major SELL targets are:
111.56 - 38.2% retracement of wave 3(yellow) and 61.8% of wave (1);
109.23 - 100% of wave (1) and 361.8% of wave A(yellow);
107.18 - 61.8% retracement of wave 3 (yellow)
usdjpy still needs correction to move up.
major wave 2(yellow) was lasting for 2 months.
current wave 4(yellow) started on 15 december.
keep an eye on wave structure and major wave breakouts.
it still looks bearish.
market realized that Trump was not joking.
"trump rally" is over.

3 févr. 2017

Transaction en cours

7 févr. 2017

Trade fermée manuellement

1st SELL target is reached 111.56 (actual price was 111.59) - 38.2% retracement of wave 3(yellow) and 61.8% of wave (1);

nice point to cover profits.
next sell targets are:
109.23 - 100% of wave (1) and 361.8% of wave A(yellow);
107.18 - 61.8% retracement of wave 3 (yellow) .

7 févr. 2017

Note

possible wave count.
maybe entire correction(bear market) is already done at 38.2% retracement of 27sep-15dec bull market.
bear market(wave 4) = 61.8% of bull market(wave 3) in time. (yellow)
wave(4) = 38.2% of wave(2) in time. (blue)