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USDJPY and USDCHF Intraday: Elliott Wave Analysis

USDCHF reached new highs today, but divergence on the RSI suggests that corrective set-back is coming. However, any reversal down may not last long, as we see fourth wave coming, as part within big wave 3 that can be targeting 0.9900 level.

USDCHF 1h Elliott Wave Analysis

USDCHF 1-Hour Elliott Wave Analysis Chart

USDJPY is turning slightly lower but actually trades very slow, so we suspect that corrective wave is still unfolding. We are looking at wave (ii) or (a) that can be an expanded flat with wave c) down in view, which means that pair could retest 119.60 support before price goes higher in impulsive fashion.

USDJPY 1h Elliott Wave Analysis

USDJPY 1-Hour Elliott Wave Analysis Chart

 


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