Elliott Wave Analysis: USDJPY Finds Top

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NEUTRAL USDJPY
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Gregor Horvat
Gregor Horvat published an idea on USDJPY, H4
2 months ago

With current sharp decline from the highs in the 4-hour chart, USDJPY may now have a completed 5th wave as part of an ending diagonal (wedge) pattern. Of course, there's still a chance for more complex wave 4) or wave 5) that can retest the highs, but if USDJPY slips impulsively back below 113.58 level, then we can confirm a bearish reversal at least in three waves.

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