USD/JPY Builds Wave 3 Momentum Above 110 Resistance Zone
USD/JPY
4 hour
(Click on image to enlarge)
The USD/JPY uptrend continues strongly and has reached the 111 round level in the meantime. There seems to be more space available for an uptrend continuation with the uptrend channel before price reaches the top of the channel and 50% Fibonacci resistance spot at 111.80. This could complete a larger WXY (pink) correction within wave D (purple).
1 hour
(Click on image to enlarge)
The USD/JPY seems to be in a wave 3 (green) momentum, which could extend further to the upside. Any bearish retracement might be a wave 4 and could see a bullish bounce at the previous bottoms at 110.75 or previous broken tops at 110.50.
Disclaimer: The opinions in this article are for informational and educational purposes only and should not be construed as a recommendation to buy or sell the stocks mentioned or to solicit ...
more
Comments
