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Currencies

USD/JPY – Weekly Update

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JPY Long Term Open Articles
911

In this quick update, we’ll review whether the pair has made any surprising moves that could affect the carry trade. As usual, the main focus is on Japanese candlesticks and Elliott Waves, supported by key technical indicators.

CANDLES

On Friday, the Dollar had a solid chance to form a top with a strong reversal combo—but it didn’t. Some forces pulled it back. The USD/JPY pair remains strongly bullish on the daily, weekly, and 15D frames. All trends are bullish.

ELLIOTT WAVES

The long-term targets for the USD/JPY pair remain intact.

Summary

As we discussed in the October monthly report, USD/JPY closed October with overwhelmingly bullish odds for the greenback. Momentum is so strong it could even accelerate the rally, putting the target rectangle within reach over the next 1–2 years.

The dollar remains bullish until it signals otherwise on at least the weekly frame.

Happy Trading!

JPY Long Term Open Articles
911
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