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Elliott Wave Count For USDJPY: Recovery Could Extend Up To 100 Level

USDJPY is trading higher since FOMC statement on Wednesday. Pair broke above the upper trend-line of Elliott Wave channel so we think five waves down in wave A)/1) is complete and that market is in first leg of a minimum three wave corrective rally. We are talking about wave B)/2) that may reach 100 area later this week. Right now we see five waves up from 93.78 so we think that wave A is near completion, so be aware of a wave B pull-back in the near future.

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