Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.
USDJPY spiked higher on the intra-day basis, through wave (a) highs and reversed down from 99.65. We are wondering if maybe wave B/2 is already complete. Well, daily close price, the most important price of the day, below corrective channel support line will put weakness in play. If we see another push higher, up to 100 then wave B/2 will become more complex, but still corrective leg and part of incomplete larger three wave decline from above 101.30. In any case bias is to the downside.
If you are interested in our analysis then you can try us absolutely FREE FOR 7 DAY.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.