There is no change in the forecast for Dollar/Yen. With respect to the leading expanding diagonal as Intermediate wave (A) turning the trend would be suggested well.
The diagonal pattern has potential of retracing up to a partial retracement of the decline since June high.
Bearish View :
As defined on this Dollar/Yen’s daily chart, the Minor degree waves could have expended a leading diagonal in one larger degree.
Any retrace back to 50 percent of the leading diagonal, would indicate the accuracy of this bearish pattern.
Ending Diagonal :
With respect to the overlapping waves developing as an ending diagonal, the Dollar still seems to strengthen likely in a throw-over fifth wave in progress of Minor-degree wave 5.
The bullish count is well in place now against 120.32, towards a new high above the June 5 extreme at 125.855.
Bullish Outlook :
With respect to the Minor- degree wave 4 as a complete correction, the Dollar would strengthen again mount on a final advance of Minor-degree wave 5.
This bullish count is in place against 118.06, through a significant new extreme above the June 5 high.
Bullish Outlook :
Dollar/Yen is in its late stages of the consolidation (for 5th straight week) in triangle, situated prior to advance in fifth wave of Minor-degree wave 5.
The bullish outlook as well potentially is in place against 122.3, towards the initial target around 126.564, where the wave 5 equals the same degree first wave (not shown in this frame).
Bullish Outlook :
Dollar/Yen seems to have completed a triangle correction in Minute degree, prior to continue the advance in fifth wave of Minor-degree wave 5.
The bullish outlook could be in place now against 122.26, towards the initial target around 126.564, where the wave 5 equals the same degree first wave (not shown in this frame).
Bullish Outlook :
After consolidating for 4th straight week, the Dollar/Yen remains potentially on the upside trend likely in Minute-degree triangle fourth-wave (not labeled yet).
The outlook remains bullish against 121.52, towards the initial target around 126.564, where advancing in the wave 5 equals the same degree first wave (not shown in this frame).
Bullish Outlook :
The Dollar/Yen still maintains in its bullish stance, likely in extending third wave of Minor-degree wave 5.
The outlook against 121.52 remains bullish through the initial target above the June 5 high around 126.564, where advancing in the wave 5 equals the same degree first wave (not shown in this frame).
Bullish Outlook :
The early-week advancing in Dollar/Yen has well engulfed the prior week’s pullback.
The bullish outlook against 121.52 is through the initial target above the June 5 high around 126.564, where the Minor wave 5 equals the same degree first wave.
Bullish Outlook :
After making the 123.601 high on Monday, the Dollar/Yen ended the week slightly lower.
The bullish outlook remains intact against 121.52, towards an initial target above the June 5 high around 126.564, where the fifth and first waves are equal.
