USD/JPY In A Bullish Turn - Elliott Wave Analysis
Gregor Horvat | Jul 14, 2020 09:26AM ET
USD/JPY is trading in a three-wave recovery, up from 106.07 level. We see first and the second wave of a recovery, wave 1)/A) and 2)/B) as completed, so the latest rise from 106.63 level can already be part of a wave C)/3) which can in days and weeks ahead take price towards the 108.8/109.84 level. That said, we also see a five-wave lesser degree rally on the intra-day time frame, which is the first evidence of a continuation of a bullish movement.
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