• 271 days Could Crypto Overtake Traditional Investment?
  • 276 days Americans Still Quitting Jobs At Record Pace
  • 278 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 281 days Is The Dollar Too Strong?
  • 281 days Big Tech Disappoints Investors on Earnings Calls
  • 282 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 284 days China Is Quietly Trying To Distance Itself From Russia
  • 284 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 288 days Crypto Investors Won Big In 2021
  • 288 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 289 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 291 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 292 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 295 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 296 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 296 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 298 days Are NFTs About To Take Over Gaming?
  • 299 days Europe’s Economy Is On The Brink As Putin’s War Escalates
  • 302 days What’s Causing Inflation In The United States?
  • 303 days Intel Joins Russian Exodus as Chip Shortage Digs In
  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