#USDJPY Elliott Wave Analysis
Most traders look at a pullback and feel fear. Wave traders look at the same pullback and see a setup building. The chart never changed. The eyes did.
Most traders look at a pullback and feel fear. Wave traders look at the same pullback and see a setup building. The chart never changed. The eyes did.
Wave (iv) has completed its corrective triangle right on structure. The contracting pattern between the trendlines did its job: it compressed price, tested patience, and now leaves the door open for wave (v) to extend higher.
Invalidation sits at 161.603. As long as that holds, the structure calling for a final push up into new highs stays intact.
Same chart, different eyes.
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Elliott Wave analysis involves subjective interpretation. Always do your own research and manage your risk accordingly.
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