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USDJPY and German DAX Intraday: Elliott Wave Analysis

German DAX seems to be in fifth wave of recovery from 10637 low so seems like market could make some corrective set-back soon. But there is still room for 11900 before sellers may come in and send price down to the first gap near 11530.

DAX (Aug 2015) 1h Elliott Wave Analysis

DAX Futures(Aug 2015) 1-Hour Elliott Wave Analysis Chart

USDJPY is moving higher nicely for the last couple of days, but we see pair trading at some technical resistance here around 124.00-124.50. Notice that we can count five waves up from 120.43, while the RSI is showing a bearish divergence which suggests a bearish turn in sessions ahead, but only for a corrective set-back; big trend remains up!

USDJPY 1h Elliott Wave Analysis

USDJPY 1-Hour Elliott Wave Analysis Chart

 


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