USD/JPY

Around 13.5% of daily trades. Known as “Gopher,” this pair is popular for its stability and low spreads, influenced by U.S. and Japanese monetary policies.

USD/JPY

Exploring the Future of USDJPY: An Expert Elliott Wave Perspective as of August 4, 2023

USDJPY peaked near 152 in Oct 2022, completing a 5-wave Elliott impulse before entering a corrective A-B-C phase. Wave A dropped sharply to 127, Wave B rallied back toward 145, and now Wave C appears underway with prices near 143 in Aug 2023. Bearish divergences and resistance signal potential downside ahead as the larger correction unfolds. Traders should watch for unfolding impulsive moves and key Fibonacci levels to anticipate next directions. #ForexAnalysis #ElliottWave #USDJPY

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