USDJPY Elliott Wave Forecast: Looks More Bearish Below 101.90

USDJPY has turned up from channel support line but we need to keep in mind a bigger pattern; a three wave rally to 103.74 followed by an impulse down; that’s a bearish case that suggests weaker prices in days ahead. In fact, rally to 102.66 is in three legs that stopped close to 61.8% retracement level so bearish continuation could start soon. An impulsive reaction down, through 101.90 will open door for new low.
USDJPY 4h Elliott Wave Analysis
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