Since at least February 8, the USDJPY, the exchange rate between the U.S. dollar and the Japanese yen (and one of the most popular forex pairs) has mostly gone up.
While the financial press attributed the dollar's rally against the yen to factors such as "signs of U.S. recovery," there were much more objective measures for the USDJPY's progress.
Every Friday, Elliott Wave International's Senior Currency Strategist Jim Martens records a video update for his Currency Specialty Service subscribers. On Friday, February 11, Jim recorded the following bullish video forecast for the USDJPY.
Watch it now, free, to see how precisely Jim was able to forecast the ending price target for the USDJPY rally using only Elliott wave and Fibonacci analysis.
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