• 804 days Will The ECB Continue To Hike Rates?
  • 805 days Forbes: Aramco Remains Largest Company In The Middle East
  • 806 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,206 days Could Crypto Overtake Traditional Investment?
  • 1,211 days Americans Still Quitting Jobs At Record Pace
  • 1,213 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,216 days Is The Dollar Too Strong?
  • 1,216 days Big Tech Disappoints Investors on Earnings Calls
  • 1,217 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,219 days China Is Quietly Trying To Distance Itself From Russia
  • 1,219 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,223 days Crypto Investors Won Big In 2021
  • 1,223 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,224 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,226 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,227 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,230 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,231 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,231 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,233 days Are NFTs About To Take Over Gaming?
Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

  1. Home
  2. Markets
  3. Other

Gold And USDJPY: Intraday Elliott Wave Analysis

Gold is approaching the lows, but with recent slow price action around the 1280 we think that price is in final stages of a five wave decline. A wedge pattern at the low also suggests that support could be near. Keep an eye on 1272-1275 region from where bounce could occur. From a trading perspective it's better to be patient and wait on correction before going short.

GOLD 1h

Gold 1-Hour Chart

USDJPY has extended gains today, but based on the intra-day price action we think that upside is limited. Notice that pair is in fifth wave up so correction may occur and send price back to 99.00 region that would be an ideal zone for a new bounce higher. We just hope we will get this pullback. At the moment pair is just trading too high and risk/reward ratio is not good at current price.

USDJPY 1h

USDJPY 1-Hour Chart

 


Written by www.ew-forecast.com
Hurry Up only few hours left for 2 for 1 package. Register Now and Save 50% [2 for 1: Get 2 Month Package for Price of 1]

 

Back to homepage

Leave a comment

Leave a comment