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USDJPY Faces An Intraday Corrective Recovery: Elliott Wave Intraday Analysis

Gregor Horvat Wavetraders Tue May 27, 9:25AM CDT
Stock brokers analyzing stocks on screen by Standret via Shutterstock

USDJPY is sharply bouncing after reaching May lows within the wedge pattern for wave »v« of an impulse, so it can be now trading in a higher degree abc correction, which can recover the price back to 145 – 146 resistance area before bears return.

USDJPY Faces An Intraday Corrective Recovery: Elliott Wave Intraday Analysis USDJPY 1H Chart
USDJPY 1H Chart
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Basic bearish Elliott wave pattern shows that a five-wave impulsive decline indicates for more weakness after a corrective three-wave pause.

Basic Bearish Elliott Wave Pattern
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For a detailed view and more analysis like this, you may want to watch below our latest recording of a live webinar streamed on May 26 2025:

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