This post is in continuation of the analysis of USD/JPY done on 16/8/2015 (here). Going forward the two possibilities are shown on the chart in blue and red lines. There is a little change in the possible wave counts, since that last post, as shown in the chart below. The move since the top made in June looks like an "abc" correction (shown in small green letters). One more move to the upside above the top made in June looks possible. This wave count correlates with the wave count I have for Nikkei, which I will try and publish next. However, it is equally likely that this is just the start of the correction as shown by blue line. In either case USD/JPY seems to be in extended 5th wave and will likely correct to around 100.
No comments:
Post a Comment