USDJPY Short-term Elliott Wave Analysis 11.9.2016

Revised view of Elliott wave cycles suggests that cycle from 6/24 low is unfolding as a bearish triangle where wave ((A)) ended at 107.5, wave ((B)) ended at 99.51, and wave ((C)) ended at 105.5. Wave ((D)) has reached the minimum swing to end but can see marginal low towards 100.5 – 101 area before pair turns higher in wave ((E)) in 3, 7, or 11 swing to end the triangle, then the pair should resume lower again while pivot at 105.5 stays intact.

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