• 11 hours Amazon Favored To Win $10 Billion Pentagon Contract
  • 14 hours American Steel Downgraded As Trade War Escalates
  • 17 hours From Gold To Bitcoin: The Evolution Of Money
  • 19 hours Italy Budget "Not Compatible With Commitments That Exist In The EU"
  • 1 day U.S. Deficit Defies Economic ‘Boomtime’
  • 2 days Saudi Business At Stake Over Journalist Murder Allegations
  • 2 days Trump Bails On Coal Industry Incentives
  • 2 days Google Opens Up About "Project Dragonfly"
  • 2 days Retail Sales Rebound, But Is It Enough To Post Positive Earnings?
  • 3 days Stocks Continue To Slide As Economic Fears Fester
  • 3 days Where Does The True Value Of Gold Lie?
  • 3 days Bitcoin Soars Amid Tether Drama
  • 3 days Fake Cheese, Hooters, And Big Banks: The Millennial Market Hitlist
  • 4 days “Enormous Piles Of Cash” Are About To Return To The Market
  • 6 days UAE Approves ICOs As Equities Markets Lose Momentum
  • 6 days Has The Stock Market Reached A Tipping Point?
  • 7 days Why Brazil’s Presidential Election Matters For Markets
  • 7 days Latin America’s Love-Hate Relationship With Crypto
  • 7 days Investors Panic As Market Correction Continues
  • 7 days “Rising Inequality” Could Impact America’s AAA Credit Rating
U.S.-Turkey Tensions Take A Dangerous Turn

U.S.-Turkey Tensions Take A Dangerous Turn

U.S.-Turkey tensions have reached a…

EU Weighs New Payment System With Iran To Skirt U.S. Sanctions

EU Weighs New Payment System With Iran To Skirt U.S. Sanctions

Demonstrating its eagerness to continue…

Elliottwave-Forecast

Elliottwave-Forecast

Elliottwave-Forecast

Elliottwave-Forecast.com (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to…

Contact Author

  1. Home
  2. Markets
  3. Other

USDJPY Short-term Elliott Wave Analysis

Short term Elliottwave structure suggests dip to 107.73 ended wave X. Rally from there is unfolding as a double three structure where wave ((w)) flat ended at 109.48, wave ((x)) pullback ended at 108.74, and pair has resumed the rally higher in wave ((y)) of Y towards 110.5 - 110.9 area. Near term, while wave b pullback stays above 108.74, expect the pair to resume higher again towards 110.5 - 110.9 area and end the cycle from 4/7 low and 4/18 low. We don't like selling the proposed pullback in wave b and expect buyers to appear once wave b pullback is complete in 3, 7, or 11 swing as far as 108.74 pivot stays intact. Afterwards, expect a 3 waves pullback to correct cycle from 4/7 low.

USD/JPY Elliott Wave Analysis Chart
Larger Image

 


At EWF we offer 24 hour coverage of 50 instruments from Monday - Friday using Elliott Wave Theory as primary tools of analysis. We provide Elliott Wave chart in 4 different time frames, up to 4 times a day update in 1 hour chart, two live sessions by our expert analysts, 24 hour chat room moderated by our expert analysts, market overview, and much more! With our expert team at your side to provide you with all the timely and accurate analysis, you will never be left in the dark and you can concentrate more on the actual trading and making profits. Check out our 14 day Free Trial to sample everything EWF has to offer.

 

Back to homepage

Leave a comment

Leave a comment