23 May USD JPY Elliott wave analysis: rally resumption?
The chart above shows a probable end to the a-b-c zigzag correction and price showing some signs of bullish continuation. A dip below 110.82 and 110.20 will lead to more bearish move. A break above 111.7 should be enough to confirm the expected bullish resumption. If price rallies above 111.7 and eventually above 114.5, we can then say we have successfully picked a bottom at 110.20. More updates will come later.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.