USD/JPY short term wave image (Nikita FX )
USD/JPY finally was able to be extradited into Major-3 upward wave.
Comparing with a Fractal chart pattern of CNY/JPY, USD/JPY's 107.83 (Apr. 18)
was a wave 5-5 truncate (since 125.86) due to an exhaustion Gap.
Now we have started initial wave of Major-3-sub-1 which is heading for H&S
neckline (115.85) and would be rejected due to the strongest Resistance now.
Then wave Major-3-sub-2 will be coming down to 109---110 area again.
This Chart also shows its target of Wedge breakout: 120.72 (P=Q ) which will be
a mid-term target.
Nikita FX (climbingfx.jugem.jp/ )
Comparing with a Fractal chart pattern of CNY/JPY, USD/JPY's 107.83 (Apr. 18)
was a wave 5-5 truncate (since 125.86) due to an exhaustion Gap.
Now we have started initial wave of Major-3-sub-1 which is heading for H&S
neckline (115.85) and would be rejected due to the strongest Resistance now.
Then wave Major-3-sub-2 will be coming down to 109---110 area again.
This Chart also shows its target of Wedge breakout: 120.72 (P=Q ) which will be
a mid-term target.
Nikita FX (climbingfx.jugem.jp/ )
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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.