The short-term Elliott Wave outlook for USDJPY indicates that the cycle from the January 28, 2026 low remains in progress, unfolding as an impulsive structure. From that low, wave (1) concluded at 157.72, followed by a corrective pullback in wave (2), which ended at 152.25. The market then advanced into wave (3), developing as an impulse of lesser degree. Within this sequence, wave 3 of (3) terminated at 156.82, as reflected in the one-hour chart. Subsequently, wave 4 of (3) completed at 155.57, setting the stage for the current advance in wave 5.
From the wave 4 low, wave ((i)) finished at 157.97, while the corrective wave ((ii)) ended at 156.44. The rally then resumed, with wave ((iii)) reaching 158.90 before another modest pullback in wave ((iv)) concluded at 157.26. The structure now points toward the completion of wave ((v)), which should finalize the broader wave 5 of (3) sequence. This progression highlights the sustained impulsive character of the rally, with each corrective phase finding support before resuming higher.
Near term, as long as the pivot at 155.57 remains intact, dips are expected to hold in either three or seven swings. This technical condition favors continued upside extension, reinforcing the view that the impulsive rally is not yet complete. Traders should monitor short-term corrections carefully, as they are likely to provide opportunities for participation in the ongoing bullish cycle. The overall structure suggests that USDJPY retains upward momentum, with the Elliott Wave framework offering a clear roadmap for the next stages of development.
USDJPY 60-Minute Elliott Wave Chart
USDJPY Elliott Wave Video:
You are currently viewing a placeholder content from Default. To access the actual content, click the button below. Please note that doing so will share data with third-party providers.
 concluded at 157.72, followed by a corrective pullback in wave (2), which ended at 152.25. The market then advanced into wave (3), developing as an impulse of lesser degree. Within this sequence, wave 3 of (3) terminated at 156.82, as reflected in the one-hour chart. Subsequently, wave 4 of (3) completed at 155.57, setting the stage for the current advance in wave 5.){kind=link}