USDJPY is already coming down despite the gap higher at the start of the week after Japan’s prime minister announced he will step down. That move proved to be only a short-lived recovery, as the main story remains Fed rate cut expectations, which keep the dollar under pressure. Any gains are short-lived, and looking at the updated wave structure, I still see an ongoing triangle that may retest the lower trendline a few times before eventually breaking lower, possibly later this week or after Thursday’s US inflation data. A break beneath 146.50 would open the way toward 145–144.
Grega
Grega
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