Elliott Wave Analysis On GBPUSD And USDJPY

By: Gregor Horvat | Fri, Sep 2, 2016
Print Email

GBPUSD

EUR and GBP are very strong at the moment against the US dollar since NFP release. We have seen a strong leg up on cable to current 1.3340/60 area where upside can be limited as we see pair in subwave five of an extended wave three. If that's the case then we can expect a retracement into a new corrective wave four next week, so in the short-term gains may slow down.

GBPUSD, 1H

GBP/USD 1-Hour Chart


USDJPY

USDJPY came sharply to the downside but support was found at 102.80 area where wave c equals to wave a. A sharp bounce followed afterwards that lift pair back to the upper channel line, so it appears that uptrend may continue back to 104.00 and even to 104.30/50.

USDJPY, 30Min

USD/JPY 30-Minute Chart

 


Interested in our services? We have a Special Offer: Get 1 Month Access For 1€!! Grab the opportunity now at www.ew-forecast.com You can even subscribe to our Twitter account -> @ewforecast

 


 

Gregor Horvat

Author: Gregor Horvat

Gregor Horvat
www.ew-forecast.com

Gregor Horvat

Gregor Horvat, based in Slovenia, has been in the forex markets since 2003. He is a technical analyst and individual trader who has worked for Capital Forex Group and TheLFB.com. He also is founder of forex services on www.ew-forecast.com. EW-Forecast.com provides technical analysis of the financial markets, highlighting behavioral patterns based on the Elliott Wave Principle (EWP). Website: http://www.ew-forecast.com/

Copyright © 2013-2017 Gregor Horvat

All Images, XHTML Renderings, and Source Code Copyright © Safehaven.com