OrangeTrader93

USDJPY Elliot Wave Analysis - Moving Into Corrective Structure

Long
FX:USDJPY   U.S. Dollar / Japanese Yen
//Forecast//
Price is rejecting off the weekly trendline. It's looking as if the 5th wave will be truncated from the exhausting selling pressure. FRVP and the 20 EMA indicate that price will retrace to the point-of-control, beginning wave a.
Comment: Wave v pushed down to the 200% level.
Comment: Correction ended at 103.928

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