The bigger than expected correction found support at the 61.8% retracement; the 2 correction legs also sport a 1.618 relationship. This pullback fits as a wave-(2) as opposed to our originally proposed wave-4. If this is the case then prices must not break the spike low yesterday at 101.78 (our SL is just below). S/t, RSI momentum did break the 40 level but quickly regained the bull zone. Minor resistance is 102.46 ahead of 102.93; critical support is 101.78. Although the bull triangle call remains valid above 101.07, a move below 101.78 supports raises the case for bearish alternate cases and warrants a neutral bias. Conviction: Med/High Trade: Long @ ~102.83; SL 101.75; TP 104.80/105.35 Levels: Support – 101.80, 101.09, 100.82 Resistance – 102.46, 102.93, 103.09
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