USDJPY. Update of November chart. Target 118.60-125.00Back in November 2017 I posted the idea titled "USDJPY. Possible wave count. SeeSaw" (see related).
The price was shaping the junction of wave B of ABC correction, which still emerges in this pair.
Last update was done this February where I showed the possible area of wave B completion around 104.25.
The price reached 104.60 area and reversed.
I post this update as price broke out of the downtrend wave B around 112 level and now we can see
how wave C emerges. It could be fast as it should be for wave C.
Now you can check the power of the trends as I added white uptrend to show you where wave C could hit being equal to wave A.
It was marked as target 2 at the 125 level - amazing gain it could bring us. This level corresponds with a multi-year top.
Before that there is a target 1 at the 118.60 level as here is a former top of wave A, which could be a strong barrier for the up move.
Invalidation is below 108.10
