HomeContributorsTechnical AnalysisUSD/JPY Turns Back to Bearish Mode from Resistance

USD/JPY Turns Back to Bearish Mode from Resistance

Elliott Wave Financial Service
By Elliott Wave Financial Service

USDJPY turned sharply down from projected resistance as we warned about on July 31.

Well, A-B-C correction can be now completed and we should be aware of a sell-off after the NFP report, ideally within a new five-wave bearish impulse, just be aware of short-term pullbacks. Bearish confirmation level is still far away below 138 region.

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Elliott Wave Financial Service
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