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USD/JPY sideways to up in 4 hours chart
Friday, July 31, 2015 0:18
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Trend is bullish in USD/JPY currency pair in 4 hours time frame. Support is present at 122.92 price level. I expect price to drop to complete bearish Wave C. Based on Elliott wave pattern, market is probably going to remain sideways for the time being. Next, expect a new high in price. If bearish candlestick closes below 122.92 critical support level then up trend is going to end. In this case, I would prefer to stay out of the market and re-analyze the price action.
Source: http://www.fxinstructor.com/blog/usdjpy-sideways-to-up-in-4-hours-chart
