USD/JPY: 'High Wave' points to correction

USD/JPY: 'High Wave' points to correction


There's a bearish 'High Wave', which hasn't been confirmed yet. So, the pair is likely going to achieve the closest support at 110.81. Meanwhile, if a pullback from this level forms next, bulls will probably try to test the next resistance at 111.75.


The last 'High Wave' highlights an opportunity to have a downward correction. The main intraday target is the lower 'Window' (110.75). This level could be a starting point for another bullish price movement.



Latest news

AUD/JPY looks exposed

AUD/JPY formed a “shooting star” candlestickon the W1. This week, it’s testing levels below the 50-week MA at 75.45.

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