USDJPY Intermediate Impulse to End Cycle Wave V

[PocketOption]

USDJPY Intermediate Impulse to End Cycle Wave V

The current chart of the USDJPY pair shows the formation of a global impulse trend. In the last section of the chart, we see the construction of the final cycle wave V.

Wave V takes the form of a 5-wave impulse ①-②-③-④-⑤ of the primary degree. In the specified impulse, the first four parts have ended.

Currently, we can expect the construction of the primary fifth wave, which takes the form of an intermediate impulse (1)-(2)-(3)-(4)-(5). The price in the final primary wave ⑤ could rise to 150.91.

At that price level, minor wave 5 will be at 76.4% of impulse 3.

An alternative scenario shows that the cycle wave V has already ended in the form of a primary impulse.

Thus, in the next coming trading weeks, we can expect the formation of a new bearish trend.

It is assumed that a bearish impulse wave Ⓐ could form on the market in the near future. This will mark the beginning of a new 3-wave zigzag.

The upcoming decline could reach the area of 140.38, and then even lower.

Test your strategy on how the USD will fare with Orbex - Open Your Account Now. 

The post USDJPY Intermediate Impulse to End Cycle Wave V appeared first on Orbex Forex Trading Blog.

Source: USDJPY Intermediate Impulse to End Cycle Wave V