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USD/JPY in 5th wave from 2007 high
09-05-2010, 12:29 AM
Post: #1
USD/JPY in 5th wave from 2007 high
Finding this rule is proving to be awsome timing for me as I have just found my trading style which is elliott wave price structure also using fib and the rsi for divergence, this gives me an opportunity to use it to count the waves.

But not only that the USD/JPY has been in a 5th wave decline since the high of 2007. It looks to me like it is currently in the latter stages of a wave 3 subwave as it approaches the 1995 low which is the previous wave 3 extreme (the wave 4 formed a showcase 12 year triangle). I would like to hear from anyone following this currency pair to share notes on counts ESPECIALLY as this wave unfolds into its 4th wave retrace rally.

Happy trading
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