Dollar-Yen daily intermediate wave zone and the most recent decline wave

The daily mid-range wave (close) formed in 2017 and

the recent downward wave are illustrated.

↓ USD/JPY Daily Mid-range Wave (Close)

■ Lows

Starting point ⑩ November 1, 114.179, is the recent daily downward wave.

Because it was a weak downward 3-wave move that returned to the upside, all target values were reached by the end of last week.

Therefore, the maximum target value is the 2×E value 112.034 and the 3×E value 111.319, which will be the next targets.

as the next target values.

Even during the sharp rise starting September 8, the 3E value was reached in the 1-hour chart, so

it should be fine to take up to the 3E value to suppress the initial downside as well.

As of last weekend, it already touched the 2E value 112.034.

Since it has not reached the close value, the Monday close will be watched to see if it breaks this line.

The final target value of 3E value 111.319 is within the buy zone, and

as the closing gap on September 18 (lower shadow of the bullish day on the 18th at 110.994) closes, buying tends to increase.

※ The maximum time elapsed for the starting point ⑩ is November 23; the aftershocks are valid until the 27th (Mon).

If a rebound occurs, the start point of the 3rd wave may shift, creating another wave pattern, so be cautious.

In particular, if you take the 2nd wave starting from September 8 and the 3rd wave starting from the rebound point on November 1,

a medium-term upward wave would form.

■ Upside

The first target is the start point ⑩ E value 112.749

This is the upper limit of the mid-range wave in the start point ⑥ upward wave,

and when the rate on a daily close rises above this line, the trend tends to turn upward.

As it is also the upper edge of the sell zone, it tends to attract selling retreats.

Additionally, it continues as follows.

Starting point ⑧ downward wave mid-range wave lower limit 112.983

Starting point ➁ upward wave mid-range wave upper limit 113.290

Starting point ⑨ upward wave mid-range wave upper limit 114.240