Home Forex Analysis And Forecasts USDJPY Can Bounce Soon: Elliott Wave Analysis

USDJPY Can Bounce Soon: Elliott Wave Analysis

USDJPY has turned down from the highs at the end of September after an ending diagonal placed in wave v) that completed an extended wave 3. As such, a reversal from the high should unfold in three waves in wave 4. Well, we can already see price in wave (c) so contra-trend price action can be in final stages, especially if we consider slow price action and momentum in current leg down that is also testing 38.2% retracement level. With that in mind, price can bounce very soon up into wave 5. Rally back above 108.15 would be a confirmation for a bullish turn.

USDJPY Elliott Wave Analysis

Usdjpy elliott wave

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