USD-JPY Elliott Wave Analysis For Week Starting 09-16-24 And Ending 09-20-24.

G. Samdani Avatar

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Current Trend: The USD-JPY pair is currently in an uptrend on the monthly chart and in a correction mode for the last 3 months. It seems like it is in Wave iv of Wave 3 correction.

USD-JPY monthly charts with Elliott Wave Analysis.
USD-JPY monthly charts with Elliott Wave Analysis.

The weekly chart posted below shows a possible reversal is about to come if the pair bounces from 140.24 level to go for a Wave ” b ” of possible Wave 4.

USD-JPY weekly chart with Elliott Wave Analysis.
USD-JPY weekly chart with Elliott Wave Analysis.

Factors that can impact this pair:

  1. USD weakness or strength
  2. JPY weakness or strength.
  3. Interest rate differentials between the United States and Japan, can also significantly impact the USD/JPY pair.Always use stop-loss orders to manage your risk.

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