Will USDJPY Find Support and Continue Higher?

*Forecast invalidated / Patterns invalidated*

USDJPY is trending up on the 4 hour and 1 hour time frames so it is best to follow the trend and look for any possible bullish scenarios that shows USDJPY can continue higher. On the chart below we can see two possible bullish patterns (blue, red) with both BUY trigger levels practically aligned. These bullish patterns can push USDJPY higher and it is strongly possible that the pair will find support and bounce in the 104.35 – 103.85 area. Buyers should be careful if USDJPY continues lower below 103.45. If USDJPY breaks below this level it is possible the pair will continue lower.

uj 1h blog

*** Always use proper risk/money management according to your account size ***

At Elliottwave-Forecast we cover 50 instruments (Forex, Commodities, Indices) in 4 different timeframes and we offer 3 Live Session Webinars everyday. We do Daily Technical Videos, Elliott Wave Trade Setup Videos  and we have a 24 Chat Room. Our clients are always in the loop for the next market move.

Try Elliottwave-Forecast for 14 days FREE !!!   Just click here –> 14 day FREE trial