Commodity Prices

Gold •320 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	1,044.50	+38.60	+3.84%
WTI Crude •11 mins	62.35	-0.34	-0.54%
Gasoline •10 mins	2.138	-0.001	-0.05%
Ethanol •320 days	2.161	+0.000	+0.00%
Silver •320 days	30.82	+1.16	+3.92%

Silver • 320 days	30.82	+1.16	+3.92%
Copper • 320 days	4.530	+0.111	+2.51%
Brent Crude • 10 mins	65.12	-0.42	-0.64%
Natural Gas • 10 mins	3.347	+0.234	+7.52%
Heating Oil • 10 mins	2.111	-0.016	-0.77%

Headlines

705 days Will The ECB Continue To Hike Rates?
705 days Forbes: Aramco Remains Largest Company In The Middle East
707 days Caltech Scientists Succesfully Beam Back Solar Power From Space
1,107 days Could Crypto Overtake Traditional Investment?
1,112 days Americans Still Quitting Jobs At Record Pace
1,114 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
1,117 days Is The Dollar Too Strong?
1,117 days Big Tech Disappoints Investors on Earnings Calls
1,118 days Fear And Celebration On Twitter as Musk Takes The Reins
1,120 days China Is Quietly Trying To Distance Itself From Russia
1,120 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
1,124 days Crypto Investors Won Big In 2021
1,124 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
1,125 days Food Prices Are Skyrocketing As Putin’s War Persists
1,127 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
1,128 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
1,131 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
1,132 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
1,132 days Two ETFs That Could Hedge Against Extreme Market Volatility
1,134 days Are NFTs About To Take Over Gaming?

Billionaires Are Pushing Art To New Limits

Welcome to Art Basel: The…

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

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…

More Info

Contact Author

USDJPY: Two Elliott Wave Counts Pointing Higher

By Gregor Horvat - Nov 14, 2013, 6:27 AM CST

Count #1

USDJPY is moving sharply higher since the NFP report. Pair is now above 99.40 so it looks like price is moving up in third leg towards 100.60/70 region after recent retracement back to 99.00 area was just a small correction of wave 3. If our primary count is correct then pair must accelerate sharply to the upside as we expect wave there of three, typically the strongest wave.

USDJPY 4-Hour Chart

Count #2

If pair will turn sharply bearish from any reason and maybe closed on daily basis beneath 99.00 then it may be worth it to keep on this alternate bearish count.

USDJPY 4-Hour Alyernate Elliott Wave Count Chart