USDJPY WAVE ANALYSIS (CURRENT PICTURE)

This symbol has been trending up following the correction from the October 2022 high of 152 to 127.4 region. The pair has been trending up in a wave-like fashion and has currently completed waves 1 to 3. Assuming the 50 daily SMA acts as support (which is usually a reliable support considering the correction of wave 3) and completes wave 4, we would be set to go up to complete wave 5 with target of about 140.

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