It comes to me as no surprise as an elliottician when I published USDJPY report showing triangle which turned into a flat correction, which is 3-3-5 wave sequence because the end result was supposed to bloom. An up move of 1000 pips in the UJ- Amazing.
Running or Current Analysis- UJ- Imporatbce of Support & Resistance-109.75
Is 109.75-- will 3rd wave end? - We caught the move very close to 109.75 at 109.55 - went to 108.55 & moving above 108.80- I was bit cautious & suggested that UJ could move close to 109.75 & moving above 109.75 -its trading at new high@110.95
The triangle which turned into Flat correction- Market is dynamic so it evolved into flat result was same- how does it matters - we were looking big upside move- which is opening up as expected
@nullx8, Possible but let us not be in hurry- as any move above 110.90-111 -recent high zone can extend this upside rally little bit more, but you are correct- it could be close to a short term top- where we will see a pullback in (iv) wave than a final push in v-th wave is left to complete the whole correction.
SwingFish
⋅
@AbhishekHSinghCMT, i'm still long. forgot to ajust the stoploss before market close :( hope the gap down is not too large
WaveTalks
⋅
@nullx8, 110.50-110.60 likely a support zone- if holds, then it shall push up but let us see how UJ opens.