EWS

USD/JPY - Flat correction before higher

FX:USDJPY   Dollar Américain / Yen japonais
I have attached my 4-hourly count and added some comments to the MACD-Indicator. I like this indicator in combination with the RSI (not shown on the chart), but you can use many other indicators that will give you the same kind of information.

I have not shown it on the MACD, but the last low to -0.20 show a positive reversal signal (new low on the indicator not seen in the price-chart. This is typical wave four behavior. So I think we will see a flat wave (iv) followed by wave (v) higher to 111.33 and this will end wave 3 and then a new correction in wave 4 followed by a new high to 113.20 before a more firm top is in place here.

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