Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

USDJPY Elliott Wave Technical Analysis

USDJPY finally broke to the upside yesterday, above former swing high but rally has then stopped at 99.40 from where we have seen a sharp almost 200 pip fall. If we take a closer look now on whole rally from 96.55 then we can see that recovery has unfolded only in three legs which is bearish structure that is pointing now lower, back to 96.55, especially once lower support line of a corrective channel gives way.

USDJPY Elliott Wave 4h

Written by

Special Offer :: Get 2 Month Subscription For Payment of 1 Month

50% Saving >>>