Well, well, NFP was positive and USD/JPY reacted blowing up. This Chart shows us we are now still on wave 3-sub-3-5-5's final stage. Until true wave 4 will be coming, we have one more small leg up. Its target will be at 121.72 (around wedge upper line).
Wave 4 will have not a big plunging in this case. TP 1 is down to Pink Channel upper line (approx. 120.40 ). Max. plunging could reach the Pink Channel bottom line (approx. 118.70).
We will still have Final wave 5.
Tonight, IH&S upper most neckline was broken, so Our long term target: 160 middle has lit on.
P.S.: wave number should be amended like this: 3-sub-3-4-Y should be 3-sub-4-Y And after that, 3-sub-3-(5-1 thru 5-4) should be 3-sub-5-1 thru 3-sub-5-4
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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.