Elliott Wave Analysis: USD/JPY Eyeing 108/109 Zone

 | Jun 29, 2020 10:12AM ET

The strong dollar may push USD/JPY even higher, after we noticed a bullish setup formation from the lows with five waves up, and a recent three-wave a-b-c set-back. That said, be aware of more gains within a new five-wave bullish cycle that can send the price into 108-109 area.