On the daily cart USDJPY is near key resistance areas, the the 5th wave seems to have completed at the start of this year and ever since the pair has been in a sideways consolidation...
I expect the pair to correct to atleast the end of wave 4...Even though in terms of its longer outlook, the pair has only retraced 61.8% from its historic highs; which indicates further selling, but I think that it might have bottomed out, and if the USD index is to break out for the higher side; I am sure USDJPY will play a key part in doing that.
I expect the pair to correct to atleast the end of wave 4...Even though in terms of its longer outlook, the pair has only retraced 61.8% from its historic highs; which indicates further selling, but I think that it might have bottomed out, and if the USD index is to break out for the higher side; I am sure USDJPY will play a key part in doing that.