• 751 days Will The ECB Continue To Hike Rates?
  • 752 days Forbes: Aramco Remains Largest Company In The Middle East
  • 753 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,153 days Could Crypto Overtake Traditional Investment?
  • 1,158 days Americans Still Quitting Jobs At Record Pace
  • 1,160 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,163 days Is The Dollar Too Strong?
  • 1,163 days Big Tech Disappoints Investors on Earnings Calls
  • 1,164 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,166 days China Is Quietly Trying To Distance Itself From Russia
  • 1,166 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,170 days Crypto Investors Won Big In 2021
  • 1,170 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,171 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,173 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,174 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,177 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,178 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,178 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,180 days Are NFTs About To Take Over Gaming?
Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

  1. Home
  2. Markets
  3. Other

Elliott Wave Analysis On USDJPY And SP500

USDJPY

USDJPY is making a sharp leg up today from 122.25 so we see decline from 123.75 in three legs, thus a corrective move that is part of a bigger complex pattern. We still like a triangle idea in wave four, so current recovery represents wave d) within a sideways range. 123.20/40 can be seen in sessions ahead from where we will look for wave e) pullback.

USDJPY, 1H

USDJPY 1-Hour Elliott Wave Chart


S&P500

E-mini S&P500 rallied with five waves from 2065 so we stay bullish on stocks after any pullback. Ideally uptrend will resume from around 2080 area, where we see former wave four and 38.2-50% Fibonacci support level. That said, be aware of another leg to the upside, towards 2100.

S&P500, 30 Min

S&P500 30-Minute Elliott Wave Chart

 


If you like our trading analysis, you can visit our website at --> www.ew-forecast.com

 

Back to homepage

Leave a comment

Leave a comment