USDJPY
is turning into a temporary recovery, and the reason is slow and
overlapping price action at the late stage of recent decline that looks
like an ending diagonal placed in wave C position, final leg of a three
wave fall from 104.11. Therefore, we suspect that USDJPY is trapped in
some bigger corrective price action, probably a triangle, and that pair
will continue sideways or even slightly higher in the next couple of
days. We expect a three wave rise up in wave C), back to 103.00.
USDJPY 4h Elliott Wave Analysis
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