USDJPY Faces An Intraday Corrective Recovery: Elliott Wave Intraday Analysis
USDJPY is sharply bouncing after reaching May lows within the wedge pattern for wave »v« of an impulse, so it can be now trading in a higher degree abc correction, which can recover the price back to 145 – 146 resistance area before bears return.
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Basic bearish Elliott wave pattern shows that a five-wave impulsive decline indicates for more weakness after a corrective three-wave pause.
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For a detailed view and more analysis like this, you may want to watch below our latest recording of a live webinar streamed on May 26 2025:
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