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Japanese Yen Impulsive Decline from High (USDJPY Rally from Low)

Japanese Yen Impulsive Decline from High (USDJPY Rally from Low)

2011-03-28 15:03:00
Jsaettele,
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60 Minute Bars

eliottWaves_usd-jpy_1_body_usdjpy.png, Japanese Yen Impulsive Decline from High (USDJPY Rally from Low)

Prepared by Jamie Saettele

The USDJPY rally from the low is now in 5 waves, which makes it highly likely that a longer standing low is in place at the mid March panic decline low. Given the 5 wave rally, expectations are now for a corrective decline towards 8050.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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