After the big rally the USDJPY started a correction to the down side followed by which we think is an expanded flat.
Several guides lead us to this conclusion:
1) The 61.8% fibo expansion of a from it's end is really near the end of this wave
2) the 76.4% of retracement of a) (or 1) also could be) almost at the same zone
3) the clear pattern where can see clearly the fast zigzag to the down side for wave b
If we are right, there is a good chance for a sell at the point where wave 4)) of c of b) ended (once be crossed by the price) looking to a minimum objective of the actual lows for a good risk reward, because the following decline for wave c) (or 3) ).
Several guides lead us to this conclusion:
1) The 61.8% fibo expansion of a from it's end is really near the end of this wave
2) the 76.4% of retracement of a) (or 1) also could be) almost at the same zone
3) the clear pattern where can see clearly the fast zigzag to the down side for wave b
If we are right, there is a good chance for a sell at the point where wave 4)) of c of b) ended (once be crossed by the price) looking to a minimum objective of the actual lows for a good risk reward, because the following decline for wave c) (or 3) ).