Wave analysis for USD/JPY (15.04.07)

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It is likely that correction [ii] is forming and its first wave (a) or (w) could have taken the shape of a double three or extended wave. In the mid term the correction [ii] of C should continue forming. Price levels forecast and support/resistance levels are shown on the chart.

Second wave (b) or (x) of correction [ii] may be forming as a double zigzag. If this is true then it should end at the end of the week around 115.00-114.50. In the sort term wave (b) or (x) of [ii] should stop forming. Price levels forecast and support/resistance levels are shown on the chart.