πŸ’Ή USD/JPY Bear Flag in Wave B Correction πŸ’Ή

2 min read

Hi traders,

The USD/JPY is building a triangle chart pattern which is indicated by the support (blue) and resistance (red) trend lines. The wave patterns suggest that a bearish breakout is most likely as part of a WXY (pink) correction within wave E (purple) of wave B (red).

USD/JPY

4 hour


A bearish breakout below the support trend line could confirm the expected wave Y (pink) whereas a bullish breakout above the resistance trend lines could indicate a larger wave X (pink).

1 hour


The USD/JPY seems to be building a bearish ABC (purple) correction within wave Y (pink). The wave B (purple) could be a bear flag chart pattern.

Good trading,
Chris Svorcik
Elite CurrenSea

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