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ForexMedium•13 February 2026•

1 min read

USD/JPY Elliott Wave Analysis Signals Broader Pullback as Price Cycle Concludes

Indian Rupee and US Dollar symbols with maps of India and USA, financial charts, coins, and dollar bills on an orange background.

A recent technical analysis of the USD/JPY pair indicates the start of a significant corrective phase following a long period of gains. According to ActionForex, the currency pair has concluded the long-term upward cycle that originated from the April 22, 2025 low. This larger-magnitude correction was triggered following the price peak reached on January 14, 2026, signaling a shift in market momentum. The current downward movement is following a zigzag Elliott Wave structure, with wave (A) already confirmed as completed. This technical shift suggests a potential trend reversal or a substantial pullback for the pair, which typically encourages short-term selling. Market participants are now closely monitoring key support levels as the corrective wave pattern continues to unfold.