USDJPY turns back to bearish mode from resistance, as correction within downtrend can be completed by Elliott wave theory.
USDJPY turned sharply down from projected resistance as we warned about on July 31. CLICK HERE
So, A-B-C correction can be now completed and we should be aware of a sell-off after the NFP report, ideally within a new five-wave bearish impulse, just be aware of short-term pullbacks. Bearish confirmation level is still far away below 138 region.
Commodities Are Looking For A Bigger Recovery. Check our blog HERE