This
post is in continuation of the USD/JPY analysis published on 27th Jan
2015. As per the daily chart below, looks like the currency pair has
completed wave iv of wave 5 since then.The prices seem to have come out
of the contracting triangle to complete wave (i) of v of 5. It may also
have just completed wave (ii) as shown.
16+feb+2015.bmp)
USD/JPY Daily chart as on 17th Feb 2015
The hourly chart below shows waves (i) and (ii) of v of 5 in more detail.
16+feb+2015.bmp)
USD/JPY Hourly chart as on 17th Feb 2015
Conclusion
If
the above analysis and the analysis done on 27th Jan 2015 is correct,
then the USD/JPY may be in final v of 5 waves (started since Oct 2011).
The most likely target for completion of wave v at this stage is 125.
This can change depending on how the waves progress from here.
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