Usd/Jpy Bullish Bias

Usd/Jpy

Usd/Jpy reversed sharply on the upside over the past week, after the 61.8% Fibonacci retracement zone (84.80-93.73 move) was tested. A five wave move of decline is now finished at 88.13, where a bullish reversal turning point has started with a black wave A/1. In the near-term we are expecting a small Short pull-back in wave B/2, before the pair can trade higher (wave C/3), if 88.13 low holds.

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