Tue, Mar 28, 2023 @ 15:04 GMT
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Elliott Wave Forecast: USD/JPY Approaching Resistance

There were some BOJ comments in Asia regarding inflation but nothing significant. However, they have to plan different scenarios regarding policy, so we clearly should not be shocked if they change their actions after April if inflation will keep rising. I still think that USDJPY will hit resistance, but for now that’s not visible on the charts yet. We see new intraday five-wave cycle in a bullish mode that can be targeting 137.50. However, big level goes back to 138; that goes back to mid December where we see big gap when looking at JPY futures. For more details on this one check our video below in which we also covered other assets.

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