LegionQ8

Currently USD/JPY trades in 5th wave and can continue to rise

Long
FX:USDJPY   U.S. Dollar / Japanese Yen
Hello traders, I want share with you my opinion about Japonese Yen. Looking at the graph, we see how the price left the range and begin to grow, thus forming Elliott waves.On the four-hour timeframe, we can see the Japanese Yen currently trading in the 5th wave moving towards the seller zone. By switching to an hour-long timeframe, which is on the chart on the right, we can see how the price inside of the 5th wave of the senior timeframe forms upward heel wave impulse. Currently, the price has finished 4th correction waves, testing the support area from which it bounced back and started to rise. I think the price started moving in 5th impulse wave and may continue to grow.So for the Japanese yen, I see at level 137.35. Please share this idea with your friends and click Boost 🚀

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