USDJPY BoJ update
Updated
Guy's remember that I wrote about the likely corrective structure for USDJPY because the first impulse had not the characteristic of a wave 1 (not saying we can't go higher but we analyze high probability). Although we saw a bullish impulse from 100 zone we have to keep in mind that a wave C can be impulsive as well, so this is why drawing lines alone isn't enough. Short term look for the way of least resistance as always. Let price consolidate (possible wave 2) and sell the continuation. If we see a reversal (bullish impulsive reversal) we simply adjust again. Keep it safe and simple so the current market will give you lots of return on capital.
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Note
I slightly adjusted the wave count, concept remains the same.Note
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