USD/JPY Wave Analysis
On Higher Time Frame - 1 Week
W wave: $75-$125 as a Zig-Zag (5-3-5)
X Wave: X wave unfolding as a "ABCDE" and completed @ $102.700
Y wave: Y wave has Subwave as "ABC" as showing in below Daily Chart.
A wave has Five impulses 12345 and the 5th wave is extended. Now B wave may see flat correction or zig-zag or Triangle any one of them.
B wave forecast: On the weekly chart, we can see the prior top was 123.500-126 so the price may see a retrace up to this level which is showing as a blue area.
After completion of "B" Wave the fast and furious wave "C" could see the level $140.
So we can say this entire WXY Pattern is unfolding as a Double Zig-Zag.
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