Uptrend Still In Place :

The USDJPY hasn’t achieved yet even the least objective, also the wave structure from start point at 118.496 so far, suggests that today’s Dollar weakness relative to Yen only suspends the latest rally of Minor wave 5 advancing. Hence, the current decline could be interpreted as initial move of Minute fourth-wave correction, which is prior to the final rally of Minor wave 5.

Note : I’ve adjusted the third and fourth Minute waves on this frame of daily chart.

USDJPY - Daily

4 thoughts on “USDJPY

  1. Raj Ponath

    Dear Sir,
    THe usd/jpy came very close to the invalidation point and now it’s pointing up. In case of Eur/usd, the move down today does not have an impulsive feel about it. The chart looks like it’s making a 5 wave upmove. The 3rd wave had ended at 1.1381 and 4th wave seems to have ended at 1.1051 and now it looks like bullish for the 5th wave. Can you please update your Eur/usd charts. I would like to see your opinion on this for confirmation. Thanks a million

  2. Raj Ponath

    Ok thank you sir.
    Your chart on eur/usd says it will break lower on the daily timeframe but the recent price action shows EU being a bit bullish. The latest usd/jpy chart posted, shows a trend reversal which means DX has a top already. correct me if i am wrong please. If DX is declining, then naturally eur/usd is bullish right? I am so confused 🙂
    Thanks for the reply… much appreciated..


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