(JPY | USD) Forex Trading Analysis Today Forex Forecast | Aug 20, 2024 | JPYUSD Analysis

Forex Trading Analysis

Hello, guys, I am going to analyze usdjpy currency pair let us start the the top to bottom Elite wave analysis inside daily time frame the trend is down in USD Yen currency pure daily time frame resistance is present at 161.405 resistance area is going to end downtrend in day chart of usdjpy currency Pair

At 4hour time frame price action is printing lower swing highs and lower swing lows to me USD yen pair Trend looks down in 4hour time frame

at 1 hour time frame the trend is up in 1 hour chart intraday support is present at 141.68 price level price action is most likely going to drop to print bearish wave B pullback and then rise to print bullish wave C zigzag corrective leg which offers a chance to join an uptrend in USD ye pair a decisive bearish break below 14168 support level is going to end uptrend in 1 hour chart of United States dollar versus Japanese yen currency pair

More specifically the green color highlighted area offers a buying opportunity which is the previous second wave of one lesser