Finally, the USDJPY is showing sings of a new very strong recovery that can take price even back to the highs seen in 2015 as we see more and more evidences that pair has bottomed at 115.97. The reason is recent sharp leg up above 120.32 where overlap invalidated any other bearish impulsive scenarios. That said, we think that pair is turning back to bullish mode so current leg can represents wave 3 of an impulse. We however, would need to see daily and weekly close prices to confirm a changed in the sentiment from bearish to bullish mode.
USDJPY, 4H
USDJPY, 4H
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