CurrencyWaves
Long

#USDJPY Daily Elliott Wave Count

FX:USDJPY   U.S. Dollar/Japanese Yen
271 1 7
As I have previously mentioned, I believe the USDJPy             is heading for the 135.00 area. The Daily count is showing that the B wave down has ended in a Y wave triangle and the pair is in a 3rd wave up or at least a nested 1-2.

If this is a nested 1-2 then I would expect the pair to pullback and test the broken trendline created by the pitchfork. If it is the wave 4 then some consolidation before another move higher.

The RSI is in good shape here above the 70 line and showing bullishness in the pair. I have highlighted a few times in the past were the RSI has gone above 70 and stayed there for some time.
lu1977hk
17 days ago
Hi, What do you consider as broken the TL? What would be the level the pair may retrace?
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