USDJPY is this the beginning of w.C to the upside ?
I think we are in a zigzag correction with w.B retracement of 61.8% of w.A and if w.B is indeed ended we should be now at the beginning of w.C which is w.(1) of smaller degree. By looking at the structure I think we are at the last wave (w.5) of w.(1) which seems to be a leading diagonal. IN MACD we also see convergence in 4 hour time frame confirming that we are going to the upside.
There is a possibility for short term to the upside but be careful because we are in the last wave. if my assumption is correct or you can wait for w.(2) to finish probably between 50-61.8% retracement and we can ride w.(3)
There is a possibility for short term to the upside but be careful because we are in the last wave. if my assumption is correct or you can wait for w.(2) to finish probably between 50-61.8% retracement and we can ride w.(3)
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