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USDJPY Price Projection Looking to go Short & then Long

by Sanjay A, January 15, 2023

USD/JPY H4 Elliott Wave

by Sanjay January 15, 2023

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USD/JPY

|

Short

|

H4

Timeframe:

H4

Analysis Method:

Elliott Wave

Analysis:

I’m expecting the pair to rally early in the week possibly to the 50% retracement of wave iii where I would initiate a short at around 130.16 with a stop just above the 61.8% retrace. Target would be below 127.46.

Trade Plan:

Pending Short depending on price action.

Risk Management:

0.5%

Things To Watch For:

A 3 wave upside correction early in the week.

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