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FX.co ★ Elliott wave analysis of USD/JPY on May 24, 2022

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Forex Analysis:::2022-05-24T05:02:18

Elliott wave analysis of USD/JPY on May 24, 2022

USD/JPY has seen a nice rally over the last 1 year, but now it's time for a temporary corrective setback towards support near 115.00. It's, of course, possible that the corrective set-back becomes less pronounced and halts near support at 122.50 but still, some kind of correction/consolidation is needed for USD/JPY to gather more energy for the next impulsive rally towards 151.65.

Elliott wave analysis of USD/JPY on May 24, 2022

Analyst InstaForex
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