USDJPY week 3, May 2024 Can the uptrend last long?
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With the BOJ's intervention becoming increasingly clear, people are expecting the BOJ to increase interest rates 3 times this year and will begin the first increase in June.
We use the Elliot principle to analyze the USDJPY chart
We see both the big wave level in purple and the small wave level in blue, meaning the price is completing wave 5. Deekop measured the expected goal of completing wave 5 in two price ranges, the price range 159.2 and the price range 164.3. At these price zones, there may be a reversal zone, then the USDJPY price will enter the ABC correction wave.
This is my plan for next week, the order entry area will be updated daily based on market fluctuations next week.
Note: Sufficient TP, SL to be safe and win the market‼ ️Change data plan will be updated later.
Deekop's analysis is only a personal opinion with a desire to share its views with the community. I'm not always right. But my analysis always reflects my meticulous evaluation of what is best for an investment.
Financial freedom is true freedom.
With the BOJ's intervention becoming increasingly clear, people are expecting the BOJ to increase interest rates 3 times this year and will begin the first increase in June.
We use the Elliot principle to analyze the USDJPY chart
We see both the big wave level in purple and the small wave level in blue, meaning the price is completing wave 5. Deekop measured the expected goal of completing wave 5 in two price ranges, the price range 159.2 and the price range 164.3. At these price zones, there may be a reversal zone, then the USDJPY price will enter the ABC correction wave.
This is my plan for next week, the order entry area will be updated daily based on market fluctuations next week.
Note: Sufficient TP, SL to be safe and win the market‼ ️Change data plan will be updated later.
Deekop's analysis is only a personal opinion with a desire to share its views with the community. I'm not always right. But my analysis always reflects my meticulous evaluation of what is best for an investment.
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