With 5 years circle, USDJPY got a top at June/5/2015 and take a down way since Dec/18/2015. We can found one N wave at first, then one middle wave with down break and continue one N wave again. There is Nine waves with N wave three times. Then change into one middle wave and make three valleys, now it seems to turn to up way.
It is really funny when we saw a bullish gartley, after this gartley it had finished one N wave with N value.
But it does not mean we can long go on. Base on month charts, the market is just returned to Tenkan Line and Chien Line is made 3 Yaku Kouten. Also, the Span B is so hard and it is not easy to break down of 100 Yen level.
So it still needs try down to this level and continue to finish 4 Yaku Kouten.
Back to daily chart, Henkan day is coming at next Wednesday. So make a short with target to 105 if base on daily trading or S/L at 109 with a very long term and keep it into next year but I don’t like this short at this position.
