USDJPY is at the end of the correction phase and in the next 12 hours probably will hit a big support zone of levels over 126.50. From there price action will confirm the potential of the uptrend in the next 3 days and will explode at least 300 pips to over the 130.00 level. What is the supported thesis for the expected future uptrend on USDJPY:
- By Elliot waves price correction formation is symmetrical A-B-C
- Symmetrical by a time A-C waves is a big indication that are corrective
- MACD goes into negative territory and once dig for dipper correction will start the attack in green territory
If you have any questions related to this trading idea I will be happy to provide you with answers.
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