$USD vs. $JPY - High-Prob. Wolfe Wave Eyes 1-4 Line Target

Friends,

Yesterday, we looked at the Geo methodology, defining a high-probability target by the use of its "Off-Set Rule" - see set up and target-hit here: tradingview.com/chart/USDJPY/2bd67Ve1). Today, we are considering the conventional Wolfe Wave pattern, eyeing a possible target along its 1-4 Line, as shown in the following chart:





Of geometric note here, it is interesting to see how the former Geo's 1-3 Line and and current Wolfe Wave's 1-3 Line are converging at Point-5 to potentiate the probability of reversal at the level defined (arrow).


OVERALL:

The Model remains bearish, while current geometry is supporting a bearish intermediate play. A break below 123.871 would support further downside and open up to bearish targets defined in the larger timeframe (see weekly chart released a few days ago, here:

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Best,


David Alcindor
Predictive Analysis & Forecasting
Durango, Colorado - USA


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