This seems like a reasonable Elliot sequence. USDJPY has reached it's point 5 which indicates that this down elliot is now over. After point 5 price action rallied to 0-4 line, but retreated. A normal correction for the pattern though.
Now price is sideways but going up probably.
I would buy USDJPY as soon as 0-4 line is broken upwards. Usually 0-4 line breach is followed by a strong wave, and that is what I am waiting for.
I am neutral now, but monitoring price action nearby 0-4 line.
Now price is sideways but going up probably.
I would buy USDJPY as soon as 0-4 line is broken upwards. Usually 0-4 line breach is followed by a strong wave, and that is what I am waiting for.
I am neutral now, but monitoring price action nearby 0-4 line.