USD/JPY

Above is my preferred count from last year's low it seems evident that wave 4 is complete, notice how we came back into the 4th wave of smaller degree, and right into the upper boundary line of the base channel which sometimes tends to be the limit for 4th wave corrections. wave 4 & 2 both alternate in time. ALT: 1-2-i-ii

Here is the wave 4 in greater detail, it seems evident that the decline unfolded into a zigzag correction with a typical wave relationship in which wave C=A. Notice the divergence between the end of wave A and the end of wave C, Also remember that we are right between the 38.2%-50% of wave 3 which are typical targets for a 4th wave decline. Prices have breached the level labeled "Key level" on the previous post, and is most likely on its way to breach the critical level (Please review previous posts on this currency pair http://competent-trades.blogspot.com/2012/04/usdjpy-elliott-wave-counts.html & http://competent-trades.blogspot.com/2012/04/usdjpy.html)

Regards,
Ahmed Farghaly