USD/JPY H4 & Daily Update

This pair broke the upper SUPPLY level area but the latest wave might be just the begining of larger scale wave 5 extension (alt:1). It is hard to say right now because the openinig gap.

There is a technical level resistance area, WS1 and 61% Fibo Ret of last swing, all in one orange rectangle area of 82.82 - 83.03.

Take care,
Seb

Source | Elliott Wave NYSE And Forex Blog | http://elliottfxtrader.blogspot.com/2012/12/usdjpy-h4-daily-update.html