It’s already retreating from calculated resistance
EWZ is in the resistance zone
The upward correction probably won’t shoot much higher
out of an Elliott wave triangle
Traders should watch for a pullback or a breakout
We’re looking at how the upcoming currency moves might play out for the Japanese Yen and the related ETF.
Our analysis of the Dollar Index shows it to be testing a support region that we believe will serve as a platform for a strong move higher.
Don’t be fooled by the steep rise
But truncation also a possibility