ew-forecast

USDJPY: Intraday Pullback Could Lift Prices Higher

FX:USDJPY   U.S. Dollar/Japanese Yen
Markets are not moving much at the moment as traders awaits FOMC Statement tomorrow. As such, price action can be slow for another 24hours, but from a technical point of view we will stick our bullish USD view.

On USDJPY             below we see three waves of decline from recent high that can be wave four pullback that belongs to bullish impulsive wave three-circled which may reach 112.30-112.50 area this week, but only if 109.89 invalidation level is not breached.

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This sharp fall is now labeled as the fifth wave and can ideally turn around near 105.57 area. The drop that occurred at the 111.89 zone, was the end of a corrective retracement in wave four.
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Truncated wave or what?
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What the hell happened? off the dam chart, this is one for the FAIL series!
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i think this should be JPYUSD
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