Welcome me to forex. This is my first call so yeah I'll make every bit worth it by providing a detailed scenarios but keep in mind
USDJPY
is bearish long term, maybe bullish midterm to take up some liquidity but down is the way on the long run. All scenarios is counting ABC - Zigzag in which the 1:1 is at $164.938 to be completed. This second scenario suggest that we will see fall in price right from the current price as of the time of post to form a wave 4-yellow which supports the Elliott Wave Alternation rule that wave 2 and 4 'should' have a different corrective pattern. Unlike scenario 1 (see below) where both wave 2 and 4 is Zigzag, this scenario wave 4-yellow will be a FLAT
What I love an=bout this scenario is that it presents bulls a good risk reward if they are going long either at the 1-cricle or 2 region and both invalidation level is the top of wave 1-yellow (red dotted line).
PREVIOUS ANALYSIS
OTHER ANALYSIS
Comment:
SCENARIO 3
