USD/JPY – Weekly Update
In this update, we’ll examine the evolving dynamics between the Dollar and the Yen, outline the technical patterns driving the latest move, and map the scenarios that could shape the path forward. Whether this is the start of a larger development or simply a short-term fluctuation, understanding the nuances now may prove crucial in the days and weeks ahead.
CANDLES
No surprises in the USD/JPY relationship: despite broad Dollar weakness following the FED’s decision, the Dollar strengthened against the Yen on Friday, closing both the daily and weekly frames with bullish candles. The 8D frame also failed to flip bearish. The carry trade remains firmly intact, and the Dollar continues marching toward levels not seen since 1986. It remains bullish until signaled otherwise.
ELLIOTT WAVES
The long-term targets for the USD/JPY pair remain intact.
The long-term targets for the USD/JPY pair remain intact.
Summary
USD/JPY remains bullish for the greenback following the November close. Momentum is strong, and an acceleration over the next one to two years remains a plausible scenario.
The Dollar remains bullish until evidence to the contrary appears on at least the weekly frame.
Happy Trading!
