USDJPY is in a correction since 15/12/16 and has developed into a ZigZag W(circle) and a possible flat pattern X(circle) so far. 1- Wave-W (circle) developed into a ZigZag pattern, internal 5-3-5 structure a. , b. , c. ending at 108.130. 2 - Wave-X (circle) developed into a flat pattern, internal 3-3-5 structure (A),(B),(C) , ending at 114.488. 3 - Wave Y(circle) possible last ZigZag pattern, completing the corrective structure with a Double Zig-Zag.
-Price has touched previous top level (A) 114.368 and pushed back, indicating a flat pattern. Overall, bearish bias to 107.145, 105.540, or 104.080.
Trade with Discipline. Best
評論
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Pirce should be ready to drop. Still expecting one more leg down close to our target.
Thank you ChrisMark! same view with you, the structure is very clear.
ChrisMark
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@victor.Y.F, Let's see if that will work, happy pips Victor
Victor.Y.F
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@ChrisMark, the "Y" target will be around 103-104 then a monthly time frame big pull back. It may still go down in 2018, the very long term target should be below historical low but it's too early to call it now.