Hi Ellioticians, USDJPY is impulsively breaking above the 111.67 lvl., which is an indication that an a-b-c correction at 101.42 is finished, and that a new 1-2-3-4-5 move is underway. Current recovery can be part of a wave III of an impulse, so more upside is expected. As a side note: in any case be aware of temporary pullbacks along the way; minor pullbacks within wave III.
That said, if the analysis is correct then USDJPY can reach 140.0/148.0 region in the next couple of years, in impulsive fashion (five-wave move).
A break below the 101.42 lvl. would suggest a more complex correction to still be underway down from 125.85 lvl..
Trade well.
That said, if the analysis is correct then USDJPY can reach 140.0/148.0 region in the next couple of years, in impulsive fashion (five-wave move).
A break below the 101.42 lvl. would suggest a more complex correction to still be underway down from 125.85 lvl..
Trade well.