Elliott Wave Analysis: USDJPY Could Be In For A Reversal

USDJPY is trading higher, but pair is seen in 5th wave of a five wave rally so upside can be limited. Technically we expect a three wave set-back this week, which can be confirmed once market falls below the channel support at 111.40 area. Divergence on the RSI also suggests that upside can be limited.




Disclosure:
We do not own any assets or share of the instrument mentioned in our outlook
Please be informed that information we provide ARE NOT trading recommendation or investment advice. All of our work is for educational purposes only.