USDJPY Hunting Resitance On Hawkish BoJ

USDJPY came sharply to the downside recently on the hawkish BoJ which now saying that normalization can happen, possibly in March of 2024. Also, Ueda said that policy change could involve element of surprise. So we evne shoudl be aware of some volatile price moves in weeks ahead, ideally in favour of the JPY.

From an Elliott wave perspective we see nice turn lower, through the daily trendline support so more weakness can be coming after a corrective rally that is still in play. I see some nice resistance for wave 2/B rally is at 146.60-148.

GH