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GOLD and USDJPY Move Down - Elliott Wave Analysis

USDJPY turning nicely down after recent break through the lower support channel line which suggests that wave ii)/b( is complete and that price is headed back to the lows. For now Invalidation level remains at 121.74.

USDJPY 1h Elliott Wave Analysis

USDJPY 1-Hour Elliott Wave Analysis Chart

Gold is turning lower; looks like an impulse that is ready to hit new swing low, possibly even 1110 by the end of the week. Move back above 1134 will cause a complex pattern.

GOLD 1h Elliott Wave Analysis

GOLD 1-Hour Elliott Wave Analysis Chart

 


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