UsdYen Intraday Congestion!

The bullish move which started in 2011 doesn't look exhausted, though getting to the last lap before a correction follows. 

 

The 5th wave of this impulsive move is an extended and one might think that if the top of the 3rd wave of the 5th wave is taken out, price can move in another extended move to 127 or 134.

 

 

Presently in the 4 hour chart, price is confined in a correction that looks like a double zigzag or flag chart pattern (if completed as illustrated in the analytical chart below). 

 

If price is held above 115.6 and price rallies from there, one could be thinking of 127 and later 134.