USDJPY: Intraday Pullback Could Lift Prices Higher

Markets are not moving much at the moment as traders awaits FOMC Statement tomorrow. As such, price action can be slow for another 24hours, but from a technical point of view we will stick our bullish USD view.

On USDJPY below we see three waves of decline from recent high that can be wave four pullback that belongs to bullish impulsive wave three-circled which may reach 112.30-112.50 area this week, but only if 109.89 invalidation level is not breached.

www.ew-forecast.com
@ewforecast