29 Juli 2021, USD/JPY
Wave Analysis
Instead of continuing to the upperside as previously expected, euro pulled back to the lowerside and is still somehow still bearish. As it is right now, we are expecting a possible further correction to the lowerside buy should not break below the immediate trendline, if you are looking at this chart right now, we are still buyers especially on the monthly and on the weekly charts, therefore, the current bearish price rally is a corrective wave count and could see the price surge much higher towards 112.79. At the moment, if the price breaks below the previous day's lowest low, then we may see further surge even lower towards 109 or even lower to 108.
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