USDJPY TRADE LAN
On the daily timeframe, it is obvious that the corrective pattern was completed (w-x-y) structure, and the impulse wave has started to unfold, where we are currently is on the wave 3.
The 1hr timeframe count shows us a better view of what is happening in wave 3, where we were able to see that wave(i) of 3 has completed its impulse move(1-2-3-4-5) and now setting for a corrective structure ( possibly a zig zag correction.
SO I am expecting the completion of the correction pattern before resuming my buy on USDJPY as clearly shown on the chart.
The 1hr timeframe count shows us a better view of what is happening in wave 3, where we were able to see that wave(i) of 3 has completed its impulse move(1-2-3-4-5) and now setting for a corrective structure ( possibly a zig zag correction.
SO I am expecting the completion of the correction pattern before resuming my buy on USDJPY as clearly shown on the chart.
Note
the wave c is now heading to second potential reversal zone as analyzed
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.