This is my long term view on USDJPY (Years ahead!):
Short target: 72 JPY
When: April - May 2023
Why:
- I call it "Harmonic Wedge" because:
- Wave 5 on the descending wedge.
- Arc 5 is the next step.
- Fib circles confirms this.
- The golden ratio says the same (a+b)/b = a/b = 1.618.
Long target: 190JPY
When: 2031-2032?
- Wedge potential gives this target.
- Break out (red cross) is confirmed by the golden ratio.
- The vector is also a copy of earlier wave (3-4).
Note! Very often a break out starts earlier and an earlier ascending path could happen.
This is drawed with a dotted arrow. Arc 3 could be the support + local 0.5 fib level.
Short target: 72 JPY
When: April - May 2023
Why:
- I call it "Harmonic Wedge" because:
- Wave 5 on the descending wedge.
- Arc 5 is the next step.
- Fib circles confirms this.
- The golden ratio says the same (a+b)/b = a/b = 1.618.
Long target: 190JPY
When: 2031-2032?
- Wedge potential gives this target.
- Break out (red cross) is confirmed by the golden ratio.
- The vector is also a copy of earlier wave (3-4).
Note! Very often a break out starts earlier and an earlier ascending path could happen.
This is drawed with a dotted arrow. Arc 3 could be the support + local 0.5 fib level.
Note
My Mid term idea. It may delay the downtrend a "bit":
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.