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02.01.202307:15 Forex Analysis & Reviews: Elliott wave analysis of USD/JPY for January 2, 2023

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USD/JPY only needs a small dip below 130.56 to complete wave A and set the stage for a temporary rally in wave B towards resistance in the 141.25 - 143.78 area before wave C takes over for a decline toward 113.90. This will likely complete an X-wave and call for renewed upside progress in USD/JPY.

That said, we will as always take baby steps and start by looking for the small dip to just below 130.56 to complete wave A and set the counter rally in wave B towards 141.25.

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