HI traders,
USDJPY has been making series of overlapping three-wave pattern. This pattern can be easily labeled in Elliott Wave as an ending diagonal.
Ending diagonal usually forms at the end of a trend and leads to an explosive reversal. If this count is correct, we should expect more weakness in USDJPY in the weeks ahead.
Target below the origin of the diagonal, wave 4 low, is plausible in the weeks ahead.
What's your view on USDJPY? Let me know in the comment.
USDJPY has been making series of overlapping three-wave pattern. This pattern can be easily labeled in Elliott Wave as an ending diagonal.
Ending diagonal usually forms at the end of a trend and leads to an explosive reversal. If this count is correct, we should expect more weakness in USDJPY in the weeks ahead.
Target below the origin of the diagonal, wave 4 low, is plausible in the weeks ahead.
What's your view on USDJPY? Let me know in the comment.