USDJPY Was bounced after touching the trend line which is acting as both support and resistance level. The main support level comes around 105.100 level which is a completion of ii Elliot wave and the starting point of iii Elliot wave. In between this iii Elliot wave we can expect some minor Elliot impulse waves from 1-5.The price is currently trading parallel to the consolidation phase which i have mentioned earlier. We must aware about the series of Higher low lower low and lower high which is a sign of minor bearish trend. Bull has to go above the 105.600 level so that it can reach up to 107.000 Level
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