USD/JPY Elliott Wave: long term view
I'm elliott wave indicates a bullish USD/JPY. This is in line with a bullish USD around this time untill sept. This pair is transvering on the 2:nd intermediatary wave. Ichimoku cloud clearly indicates that USD/JPY is bullish, recently it came up from it. Furthermore, there seems to be an understanding of bonds are likely to increase in price up to aug or september. We can not be sure of bonds increasing in value, if they rapidly decrease, then investors will favour yen, and change the sentiment of this pair into bearish.
We have three scenarios. My suggestion for long term is to wait for a clear direction. Previous prediction on USD/JPY was correct, the overall sentiment was dived about USD/JPY, I favoured a bullish one; the price predicted was correct.
We have three scenarios. My suggestion for long term is to wait for a clear direction. Previous prediction on USD/JPY was correct, the overall sentiment was dived about USD/JPY, I favoured a bullish one; the price predicted was correct.
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