Elliott Wave Weekly: USDJPY bullish wave inside triangle

USD/JPY, Weekly chart. There’s no change to the outlook. There’s an upward impulse, which supposed to be wave ((A)). The following correction is likely taking the form of a triangle. The market should continue unfolding wave (D) inside the pattern as long as the price remains above the low of wave (C).

USD/JPY, Daily chart. Triangle’s wave (C) finished as a double zigzag. Also, there’s an upward impulse, which is likely wave A of (D). Wave B is almost over, so wave C of (D) should begin in the short term. The main critical level for this scenario is the low of wave A (101.14).

Scroll to Top