• 1 day Welcome To The Used Car Bonanza
  • 2 days The Year Of The Retail Investor Keeps Getting Bigger
  • 3 days Airlines Could Recover, But Crew Remain Elusive
  • 3 days Meet The Man Behind The World's Most Exciting Oil Play
  • 4 days Crypto-Mining Immigration Could Be The Start Of A New Trend
  • 6 days Hawkish Fed Sends Gold Prices Crashing
  • 7 days Bezos Is Heading To Space This Sunday
  • 11 days El Salvador’s Surprise Bitcoin Move
  • 14 days Markets Unfazed As Inflation Hits 13-Year High
  • 14 days How the Token Economy is Disrupting Financial Markets
  • 16 days FBI Investigating 100 Types Of Ransomware Attacks
  • 18 days Fed Ends Corporate Credit Emergency Lending Program
  • 20 days AMC Becomes the Latest Winning Meme Stock After GameStop
  • 22 days The Real Reason Your 401k Has Been Lagging
  • 22 days China Lifts Cap On Births, Allows Three Children Per Couple
  • 24 days The Market Is Ripe For Another GameStop Saga
  • 27 days Senate Grills Big Banks Over Pandemic Opportunism
  • 29 days Cannabis Has A Major Cash Problem
  • 29 days Ransomware Netted Criminals $350M In 2020 Alone
  • 30 days Russia Is Taking On Google
Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

Billionaires Are Pushing Art To New Limits

Billionaires Are Pushing Art To New Limits

Welcome to Art Basel: The…

What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

Gregor Horvat

Gregor Horvat

Gregor Horvat, based in Slovenia, has been in the forex markets since 2003. He is a technical analyst and individual trader who has worked for…

Contact Author

  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