Elliott Wave Analysis: USD/JPY Has Five Waves Up, Keep an Eye On Corrections

25 April 2022

USDJPY is in uptrend, but extreme overbought condition, slow down on US yields and also some speculation regarding BoJ JPY intervention puts a strong resistance in play on USDJPY. In fact, the pair has five waves up from start of April, so there can be time for a pullback; its totally normal.