USD/JPY Finalizing wave understanding (Nikita FX )
USD/JPY has too much complicated wave consolidation since 121.84 so far.
Therefore I should amend my wave analysis a few times with this currency pair.
Wave 5-4 had ABCDE sub-waves (finishing at 118.22 ) and wave 5-5 has A + B-abcde + C
which is my best-deal wave counting.
We are now on Final wave 5-5-C-5. (5-C started from 118.88 ). Assuming 5-A=5-C, then target
of 5-C will be at 122.67
As you know wave 5 itself started at 100.81 and it was an expanded wave 5. So we should have
at least Fib. retracement within wave 5:
A: Fib.38.2%: 122.67-(122.67-100.81) x Fib.38.2%=114.32
B: Fib.50%:122.67-(122.67-100.81) x Fib.50%=111.74
Either of A & B (114.32 or 111.74) will be our Final target. It would be happen in June (or early July)
LONG for short term, SHORT for mid-term and LONG for long term later
Nikita FX (climbingfx.jugem.jp/ )
Therefore I should amend my wave analysis a few times with this currency pair.
Wave 5-4 had ABCDE sub-waves (finishing at 118.22 ) and wave 5-5 has A + B-abcde + C
which is my best-deal wave counting.
We are now on Final wave 5-5-C-5. (5-C started from 118.88 ). Assuming 5-A=5-C, then target
of 5-C will be at 122.67
As you know wave 5 itself started at 100.81 and it was an expanded wave 5. So we should have
at least Fib. retracement within wave 5:
A: Fib.38.2%: 122.67-(122.67-100.81) x Fib.38.2%=114.32
B: Fib.50%:122.67-(122.67-100.81) x Fib.50%=111.74
Either of A & B (114.32 or 111.74) will be our Final target. It would be happen in June (or early July)
LONG for short term, SHORT for mid-term and LONG for long term later
Nikita FX (climbingfx.jugem.jp/ )