USDJPY EW Analysis - Triangle breakout.
As forecasted weeks ago, the USDJPY has been sideways in an EW triangle - tradingview.com/v/DPzzjQ0b/
This could be a major wave iv. Considering the instability of the global market right now, and that triangles are always terminal moves preceding major reversals in trend, the characteristically violent upthrust that will probably result next week from the release of the NFP last night will probably be the last breath of the USDJPY for some time, or could even mark the beginning of a large and serious stock market correction. Target is 125, it should be reached in a hurry.
This could be a major wave iv. Considering the instability of the global market right now, and that triangles are always terminal moves preceding major reversals in trend, the characteristically violent upthrust that will probably result next week from the release of the NFP last night will probably be the last breath of the USDJPY for some time, or could even mark the beginning of a large and serious stock market correction. Target is 125, it should be reached in a hurry.
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