USDJPY ELLIOT PRICE ACTION BREAKDOWN
From my own perspective, it portrays to me like we're in a correction phase. I mean, a general rectangular correction wave looking at the bigger picture on a monthly timeframe. Currently, we are in primary wave of wave C in micro wave of wave 4 and wave 3 got completed making a 78.6% retracement from the all time high. Moreover, wave 4 just go started which contains 3 waves i.e. ABC wave correction after making or attaining a 50.0% fibs level, expect price to push up to the overall time high. Then, from there we can look for selling opportunities to the down side.
lets watch and see how the market plays out.
TIPS:
WAVE A = 3 WAVES
WAVE B = 3 WAVES
WAVE C = 5 WAVES
lets watch and see how the market plays out.
TIPS:
WAVE A = 3 WAVES
WAVE B = 3 WAVES
WAVE C = 5 WAVES
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