USDJPY Weekly Elliott Wave Count
The USDJPY has been stuck in a sideways consolidation for about 2.5 years. The consolidation has been between 114.5 and 104.5. This consolidation has created a descending triangle that I believe is going to break to the upside and retest the 125.00 highs.
I am currently showing a wave (i) off the 104.50 low, this low needs to hold is the turn up is going to happen.
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| USDJPY Weekly Elliott Wave Count |