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EURUSD and USDJPY Intraday: Elliott Wave Analysis

USDJPY surprised me this week as price made much deeper downward move than I expected today. However, despite lower level my view did not change much. I still think that bulls will be stronger this week, but looks like that we will just need to wait more time. I am looking at a triangle in wave B that is now in final stages. Ideally wave (e) will find a support around 119.80 in the next few sessions.

USDJPY 1h Elliott Wave Analysis

USDJPY 1-Hour Elliott Wave Analysis Chart

EURUSD is turning down from 1.1210 area where pair hit resistance line that suggests further weakness in sessions ahead. In fact, a leg down from 1.1295 last week was made in five waves so bears should stay strong and probably took out 1.1100 this week. We will stay bearish on EURUSD as long as 1.1295 is in place.

EURUSD 30min Elliott Wave Analysis

EURUSD 30-Minute Elliott Wave Analysis Chart

 


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