29.09.202106:11 Forex Analysis & Reviews: Elliott wave analysis of USD/JPY for September 29, 2021

Exchange Rates 29.09.2021 analysis

USD/JPY has been in a major uptrend since late 2011. The first impulsive wave move from the 75.66 low in October 2011 to a high of 125.86 in June 2012. Everything since then has been part of a major triangle correction in wave (B). We need a break above 112.23 to confirm that the triangle has completed and wave (C) now is in motion for a rally above the wave (A) high at 125.86. The long-term target upon a break above 112.23 is seen near 147.67.

A break above 112.23 is essential to confirm the completion of wave (B) and the onset of wave (C) higher.

*Phân tích thị trường được đăng tải ở đây có nghĩa là để gia tăng nhận thức của bạn, nhưng không đưa ra các chỉ dẫn để thực hiện một giao dịch.

Torben Melsted,
Chuyên gia phân tích của InstaForex
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