5th wave extention on usdjpy
It's both interesting and quite scary at the same time. currently the usdjpy pair is forming an impulsive wave which is running towards the third wave which possibly will continue to the fifth wave. If this analysis is in line with current market conditions, then according to Elliot Wave analysis, this pattern forms a “5th wave extension”. currently analysis ichimoku daily also uptrend. I even returned almost 80% since March only trading on all jpy pairs with 5% risk with 1:1 RR only. If this analysis is in accordance with market reality, maybe the usdjpy market will go to the resistance area in May 2002.
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