USD/JPY - Elliott Wave Technical Analysis
Structure & Degree: Intermediate Degree (A)(B)(C) (red) sequence
- Intermediate (A) (red): 5-swings sequence in a Leading Diagonal, Minors 12345 (red)
- Intermediate (B) (red) - Semi-Complex ABC Sequence:
Impulsive Minor A (blue)
False break-out in Minor B (blue)
Extended Ending Diagonal in Minor C (blue)
Current Position & Pattern:
- Ending Diagonal in Minute V (green), final wave of Minor C (blue)
Expected Swing:
- Intermediate (C) (red), Bearish Impulse
Technicals & Confirmations:
- Double Top Divergence on Intermediate (A) (red) starting point
- 261.8% or 300% Fibonacci Extensions of Minors A & B (blue)
- 100% Fibonacci Extensions of Minutes i & ii (green)
- 61.8% Fibonacci Extensions of Minutes iii & iv (green)
- Bearish Divergence at Resistance
- Bearish Harmonic Structure