Current wave: Bottoming in wave B Red. Outlook: Higher, far higher, in a multi month rally which should take prices well above the 2015 high of 12600. Dollar yen followed the script perfectly today with another slight rise up to touch that upper trend line of the contracting triangle. I have placed a black arrow at each of the possible internal waves in the contracting triangle. each of the five waves break out into three wave pattern themselves. with the medium term wave count in mind, todays little rally presents a very tempting opportunity to the short side. the price range has contracted to a dangerously narrow ... (full story)