USD/JPY: bullish 'High Wave'

USD/JPY: bullish 'High Wave'

1907usdjpyH4.png

There's a bullish 'High Wave', so the price is rising. The main intraday target is the next resistance at 113.53, which could be a starting point for a bearish correction.

1907usdjpyH1.png

The 34 Moving Average has acted as support, so there's a 'High Wave', which has been confirmed. It's likely to have a local correction in the coming hours. So, if a pullback from the nearest support at 112.82 happens next, bulls will probably try to test the upper 'Window' (113.53).

jpy

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