USDJPY NEOWAVE ANALYSIS
Experimental analysis with the intention to follow back later on as I am still learning
The first correction is a diametric.
It appears that we have experienced an X wave rally since 2011. I identify this as an X wave rather than part of a larger pattern due to the strength of wave A following the conclusion of the diametric.
The X wave is subdivided into a zigzag.
To declare the end of the C wave, we would need to see a movement that is faster and stronger than the one observed immediately after the conclusion of wave A.
The chart appears unusual to me because it indicates that the dollar will rapidly decline against the yen, as the broader trend for this pair continues to be downward.
My reason is simply due to the decline observed during wave C of the diametric.
The first correction is a diametric.
It appears that we have experienced an X wave rally since 2011. I identify this as an X wave rather than part of a larger pattern due to the strength of wave A following the conclusion of the diametric.
The X wave is subdivided into a zigzag.
To declare the end of the C wave, we would need to see a movement that is faster and stronger than the one observed immediately after the conclusion of wave A.
The chart appears unusual to me because it indicates that the dollar will rapidly decline against the yen, as the broader trend for this pair continues to be downward.
My reason is simply due to the decline observed during wave C of the diametric.
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