USD/JPY In A Bullish Rise - Elliott Wave Analysis

 | Aug 05, 2020 09:23AM ET

USD/JPY made a sharp bullish turn at the end of last week, indicating a low in place, and a minimum, three-wave reversal underway. We labeled the latest turn as wave i)/a), which can be followed by a three-wave pullback as b)/ii). Support is at 105.3/104.9 level.