ew-forecast

USDJPY Could Retest The Highs, While US Bonds Are Down

Long
SAXO:USDJPY   U.S. Dollar / Japanese Yen
Hello traders!

Today we want to share an intraday update for USDJPY pair in which we see nice and clean bullish impulse in progress, ideally back to highs for wave 5 that can retest the highs and 125 - 126 area.

The main reason why USDJPY may stay up is still an unfinished five-wave decline on 10Y US Treasury Notes.
As you can see, there's a negative correlation, so if bonds are still pointing lower for wave (5), then USDJPY could easily stay up, while the price is above 123.05 invalidation level.

Trade well!
If you like what we do, then please like and share our idea.

Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.

14 Days Trial To Real Time Elliott Wave Analysis: 👉 https://wavetraders.com/

Learn Elliott Waves
👉 https://wavetraders.com/academy/
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.