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Usd/Jpy An Impulsive Decline

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Elliott Wave Service  
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Aug 25 2010

Usd/Jpy moved significantly lower yesterday as expected, after the prices broke through the lower side of a triangle pattern. Target around 84.00 mentioned yesterday was reached, in fact prices moved even 40 pips lower, before pair found the support. Wave 5) low could already be in place, or at least very near, if you take a look on alternative wave count (ALT on the chart). We all know what follows once a five wave move completes; a change in trend, at least temporary.

Usd/Jpy 4h chart:




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