USDJPY is turning nicely to the upside for the last two weeks which now looks like a new impulsive structure. On the 4h chart we see current price trading higher within wave five of 1 that hit 261.8% Fibonacci target an the upper red trendline of an expanding diagonal that can turn into a resistance. As such, a new corrective set-back could show up in days ahead; ideally with a three wave retracement back to 108.30 area. But most important of all is that market has five waves up from the low, thus trend has changed from bearish to bullish mode that is expected to continue to much higher levels based on structure on higher time frames.
Interested in our services ? We have a Special Offer : Get First 2 Months For The Price Of 1!! Grab the opportunity now at www.ew-forecast.com