USDJPY Short-term Elliott Wave Analysis 1.24.2015

Preferred Elliott Wave view is the dips in the pair should hold above 115.82 low for continuation higher. We think wave “W” ended at 118.83, wave “X” pull back is in progress & could test 116.99 – 116.56 area before pair turns higher in the next leg. We don’t like selling the pair as there is no red arrows on the chart and favour extension higher from above area as far as pivot at 115.82 low remains intact.

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JPY 6020150124154625



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