USD/JPY-Dollar/Yen delivered and finalized our previously posted Bearish Swing for Corrective Minor 2 (green) Wave.
We are now focusing on a BUY Set-Up on USD/JPY-Dollar/Yen due to the fact that Dollar-Index (DXY) bounced from Significant Levels and confirmed our previously posted Trend Reversal.
Corrective Structure Bullet-Points:
• Minor Wave 2 (green) unfolded with its Minute (blue) ABC Structure and stopped at the 78.6% Fibonacci Retracements of Minor 1 (green). • Minute A (blue) presents an extension in its Minuette (C) (black), hence the reason for Minuette C (blue) being limited towards the 61.8% Fibonacci Extensions of Minutes A & B (blue). • Minute B (blue) unfolded with a Simple Flat Structure and Minuette (iv) (black) inside Minute C (blue) unfolded as an Expanded Flat Structure.
USD/JPY-Dollar/Yen – Bullish View:
Bullish Minute Wave I (blue) reversed from the 109.10 Levels and delivered so far the first piece of the puzzle, with Minuette (i) (black) unfolding as a Wedge. Minuette (ii) (black) is expected to end at 61.8% Fibonacci Retracements of Minuette (i) (black), therefore this Levels are to be watched closely, as a BUY Position could be opened if a Support can be confirmed.