On USDJPY we still believe that price will turn up for a wave (c) rally towards 103.40, early this month. The reason is slow and sideways price action in 101.00-102.80 area that looks corrective, so we suspect it’s wave (b), still only second leg of a minimum three wave structure that is needed for accomplished correction.
USDJPY 4h Elliott Wave Analysis
We are looking here at the USDJPY where rally from 101.18 can be unfolding impulsively. We still need another leg up to complete a pattern, but at the moment it looks promising. I will keep a close eye on that one.
USDJPY 1h Elliott Wave Analysis
Written by www.ew-forecast.com
14 days trial just for €1 >> http://www.ew-forecast.com/register