Guest Commentary: USD/JPY Midterm Cycles Remain Bullish

DailyFX

"Pair is in larger degree wave ( 4 ) correction. Shorter cycles are mature so a pull back is expected which we believe would ideally prove corrective and result in more corrective downside to to complete wave ( 4 ) which can reach as low as 38.2 fib (89.31) before rally resume. Expect price to stay above 86.99 (50 fib) for the impulsive view to remain valid." - Eric Morera, Elliottwave-Forecast.com

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