USD/JPY is painting a textbook five-wave impulse structure from the recent lows, and we're now positioned for what could be the final act of this motive sequence.
Current Wave Count
✅ Waves 1-3 Complete: Clean impulsive structure with wave 3 showing strong extension
✅ Wave 4 in Progress: Currently correcting from the 150.94 high
🎯 Wave 5 Setup: Targeting completion around 151.95 - 152.20
Key Levels to Watch
Support Zone: 150.00 area (ideal wave 4 retracement)
This aligns with wave principle fourth-wave correction parameters
Provides a healthy pullback without threatening wave 1 overlap
Target: 151.95 - 152.20 zone for wave 5 completion
Classic 5 vs 1+3 projection
Trade Strategy
Monitor for supportive price action near 150.00
Look for an impulsive price action to confirm wave 5 beginning
Structure suggests one more leg higher before a larger correction
The beauty of Elliott Wave: when the count is this clean, the roadmap becomes crystal clear. Let's see if USD/JPY delivers this final push to complete the sequence.
Current Wave Count
✅ Waves 1-3 Complete: Clean impulsive structure with wave 3 showing strong extension
✅ Wave 4 in Progress: Currently correcting from the 150.94 high
🎯 Wave 5 Setup: Targeting completion around 151.95 - 152.20
Key Levels to Watch
Support Zone: 150.00 area (ideal wave 4 retracement)
This aligns with wave principle fourth-wave correction parameters
Provides a healthy pullback without threatening wave 1 overlap
Target: 151.95 - 152.20 zone for wave 5 completion
Classic 5 vs 1+3 projection
Trade Strategy
Monitor for supportive price action near 150.00
Look for an impulsive price action to confirm wave 5 beginning
Structure suggests one more leg higher before a larger correction
The beauty of Elliott Wave: when the count is this clean, the roadmap becomes crystal clear. Let's see if USD/JPY delivers this final push to complete the sequence.
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.
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.