USDJPY – bull flag projects to new high for the week…98.75 first

The wave-D rally towards 99.65/100.5 is still underway and the first move up is tracing 5 waves. The hourly wave-4 correction formed a bull flag and now JPY is set to make a new high for the week as wave-5 completes. The initial target for this pattern is where wave-5=1 at 98.75; a more aggressive projection suggests a symmetrical move to 100.09.

Read the full report: USDJPY



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