USDJPY 4 HR Elliott Wave Count
The wave (ii) may be complete at the 107.652 low were I have labeled the failed C wave. This spike higher from that low could be a wave 1 with a wave 2 to follow soon.
IF the pair shows a nice 3 wave pullback and then breaks higher above the 109.7 resistance then it may be a nice long opportunity with stops below the recent higher low.
If resistance holds here we could see a C wave move down to the 107.00 -106.5 area before another attempt to break higher.
 |
| USDJPY 4 HR Elliott Wave Count |