USDJPY still has room to go up while its in its wave 3. Reaching 100% of wave 1 this has qualified wave 3 to be a normal wave and we need to keep a watchful eye for a correction to the 23.6 level here which would signal this is wave 4, tho im doubtful. Anything above 161.8, expect wave 3 to extend to the 200% level. As of right now im eyeing the 141.4 level to match previous support levels.
Note
If this turns out to be the end of wave 3, then we are looking at a very very likely extended 5th wave. Wave 2 was a complex correction, so likely this should be a a much faster correction for wave 4.Note
Related publications
Disclaimer
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.
Related publications
Disclaimer
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.