USD-JPY (market situation)
Considering the larger down trend until now, i see this first impulse as the first wave of an impulse of larger degree. In this chart, we can see an impulse of 5 waves, where we have an extension of the fifth wave. We can check this using the fibo ret. We can see that the wave five is on the 0.618 of fibo. So, now i think that we can have a correction from 0.50 to 0.61, considering that usually the second wave is a sharp correction. So i will short and check 0.38 value and maybe i will take profit on 0.50. Then we will see where the market will go.
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