USDJPY

[Samirofi]

Update: 04/08/2015

The USD/JPY is in an ascending wedge with nearby resistance (red) and support (green) trend lines. A bearish breakout confirms the continuation of wave Y (blue) whereas a bullish break would indicate a continuation of the ABC (lavender).



The USD/JPY wave count is showing a potential ABC zigzag (green) within wave Y (blue). A break above the 100% level invalidates the structure.

[Samirofi]

USDJPY Daily Wave Analysis

Update: 27 Jan 2016

[Samirofi]

A decline on USDJPY was much sharper than we thought at first sight so we need to respect the market sentiment and go with the current trend. That said, we adjusted the wave count and are looking down now, back to 115.97 level and possibly even to 114.00-115.00 by the end of this month. Despite our current bearish view on USDJPY, we still think that leg down from 121.68 belongs to a big downward correction on the daily chart. If we are correct then the price is now in minor blue wave four within an ongoing bearish impulse that can resume after retracing back to 118.20 resistance.