Intraday Elliottwave Analysis: USDJPY, re-gain upside momentum?

USDJPY formed a daily shooting star but still hold above Ichimoku Tenkan-sen.

As we discussed on June 04, price does re-test 110.44/87.

Please note that medium term trend already point up again.

However, we should be cautious before ECB.

For now will use H1 bands look for some intraday short term opportunities.

Daily support levels: 110.09 109.86 109.72 109.48

Daily resistance levels: 110.49 110.63 110.74 110.99

Intraday Trade Idea: (Spot 110.29)

Sell Latentinterest Order:  110.99

Buy Latentinterest Order:  109.47

Click on the image to enlarge

usdjpy chart 1

usdjpy chart 2

usdjpy chart 3

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