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USDJPY and SP500 Intraday: Elliott Wave Analysis

USDJPY is moving down at the moment, following very bad US Durable Goods Orders (-3.4% vs 0.6% exp.). Based on a very strong decline at the moment, we suspect that price will sooner or later revisit the lows and possible test 117.00 area, where we would love to see a bounce after a completed corrective decline.

USDJPY 1h Elliott Wave Analysis

USDJPY 1-Hour Elliott Wave Analysis Chart

Traders, the S&P is trading lower as expected, now moving south with a third leg of decline that we highlighted it yesterday. Ideally that's wave C, third leg within wave E that can look for a support at our 2000-2020 zone.

S&P500 (Mar 2015) 30 Min Elliott Wave Analysis

S&P500 (Mar 2015) 30-Minute Elliott Wave Analysis Chart

 


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