USD/JPY: Possible Deeper Correction In Wave (B)
Ian Copsey | Jun 02, 2015 03:08AM ET
2nd June:
Very clearly this has somehow made its way to approach the (minimum) target at 125.13. However, I suspect we'll see a little higher because the (green) Wave (a) of Wave (iii) will approach (maybe hit) the 125.13-26 area. Therefore, it suggest a potential deeper correction in Wave (b) and then a Wave (c)/ (v) to the 125.55-85 area being the 185.4%-190% projection in Wave [iii]. Also note the 198.4% at 126.29.
Thus, watch for that high. The Wave [iv] is a little difficult to judge, but because the higher (blue) Wave (iii) will need to reach the 461.8% projection at 131.59 minimum (potentially the 498.4% at 134.43, it is unlikely we'll see a strong Wave [v] to form (blue) (navy) Wave -a- thus require a deep correction in Wave -b-.
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