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Guest Commentary: USD/JPY Pullbacks to Offer a Buying Opportunity

Guest Commentary: USD/JPY Pullbacks to Offer a Buying Opportunity

Eric Morera, Technical Strategist

USD/JPY makes a new high above 104.63 so we are still within the cycle from 101.60. This cycle should be ending between 104.90 – 105.41 resulting in at least a 3 wave pull back. Cycles are positive so we don’t like selling the pair and strategy remains to buy the dips in 3, 7 or 11 swings.

By Eric Morera of Elliottwave-Forecast.com

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

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