Elliott Wave Analysis: USDJPY and SP500

By: Gregor Horvat | Fri, Jan 20, 2017
Print Email

USDJPY is making a pullback now, which we see it as a three wave set-back in wave 2 as mentioned this morning. Ideal support zone comes in at 113.80-114.30 from where we will expect a bounce, later today or maybe on Monday. Invalidation level remains at 112.55.

USDJPY, 1H

USD/JPY 1-Hour Chart

At the same time, we see S&P500 trading higher, now trying to push price out of a triangle, but still, 2273 remains more important for a confirmed breakout.

S&P500, 1H

S&P500 1-Hour Chart

 


EW-Forecast.com has a special offer available on yearly membership, with 31% OFF.
Visite http://www.ew-forecast.com/service for details

 


 

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