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USDJPY Trading In Final Stages Of An Impulse, A Reversal May Be Expected

Elliott Wave Financial Service
By Elliott Wave Financial Service

USDJPY is trading higher, but pair is seen in 5th wave of a five wave rally so upside can be limited. Technically we expect a three wave set-back this week, which can be confirmed once market falls below the channel support at 111.40 area. Divergence on the RSI also suggests that upside can be limited.

USDJPY, 1H

Elliott Wave Financial Service
Elliott Wave Financial Servicehttp://www.ew-forecast.com/
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