Thursday, August 6, 2015

How Longer Will The Bull Rule UsdJpy?

Chart USDJPY, W1, 2015.08.06 07:52 UTC, IronFX Financial Services Ltd., MetaTrader 5, Demo

Usdjpy broke 13 year high with a long term impulse primary wave which started from 75.045 in late 2011. The primary impulse is presently at an advance stage which could probably extend to 135-136.

I believed the dip from 126 would be the beginning of a primary correction in what was expected to be a motive wave but a double zigzag corrective pattern was formed instead which suggested to me that the primary bullish wave should still continue and the next long term price levels to watch out for are 135-136 (2002 high was at 135.798).

Follow the intraday analysis here

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