• 2 hours Dow Scrambles To Avoid Fifth Straight Weekly Loss
  • 20 hours Is This The World’s First Truly Democratic Stock Exchange?
  • 23 hours India’s Wealthiest Set To Hold $23 Trillion By 2028
  • 1 day First Quarter Profits Slip For World's Top Oil Companies
  • 1 day The Yuan May Be China's Biggest Weakness
  • 2 days Hedge Funds Having A Banner Year
  • 2 days Disney Heiress Asks “Is There Such A Thing As Too Much?”
  • 2 days BHP Turns Bullish On EVs
  • 2 days Investors Turn Bullish On America’s Nuclear Decommissioning Business
  • 3 days The $90M Inflatable Rabbit Redefining Modern Art
  • 3 days Huawei’s Fate In The Air
  • 3 days Tesla Slashes Prices Again
  • 3 days The Modern History Of Financial Entropy
  • 4 days Italy’s Central Bank Embraces Sustainable Investing
  • 4 days Trump Lifts Metals Tariffs To Cool Simmering Trade War
  • 4 days Researchers Push To Limit Space Mining
  • 4 days Could China Start Dumping U.S. Treasury Bonds?
  • 5 days Is Winter Coming For HBO?
  • 5 days Rise Of EVs Signals Peak Gasoline
  • 6 days Jeff Bezos Doubles Down On Space Colonization Ambitions
Strong U.S. Dollar Weighs On Blue Chip Earnings

Strong U.S. Dollar Weighs On Blue Chip Earnings

Earnings season is well underway,…

How Millennials Are Reshaping Real Estate

How Millennials Are Reshaping Real Estate

The real estate market is…

  1. Home
  2. Markets
  3. Other

Elliott Wave Analysis On USDJPY And AUDUSD

USDJPY

USDJPY is still in the uptrend from recent lows. Because of five visible sub-waves in the blue wave three, we believe that price will make a minimum three wave setback in blue wave four position, with possible support levels seen around 108.30-60 zone, where even 38.2 Fibonacci support can act as a turning point higher. After the corrective pullback is over we should see a continuation higher into the fifth and final wave with resistance around 109.60 region. This will mark a temporary end of an upward move.

Invalidation level is at- 107.702 as long as price trades above it, we are looking to the upside.

USDJPY, 30Min

USD/JPY 30-Minute Chart


AUDUSD

AUDUSD is still in the black wave 4 corrective phase. After a three wave fall this should represent an a-b-c pullback with resistance levels seen around 0.7384/0.7392 zone, where even fromer wave four of a lesser degree can act as a turning point. There we will look for signs of a reversal with invalidation levels at wave i) lows at 0.7446.

AUDUSD, 1H

AUD/USD 1-Hour Chart

 


Are you wondering where are other USD pairs headed in short-term, or maybe Gold or S&P500? We have special updates on global markets for active traders. For more details, click HERE

 

Back to homepage

Leave a comment

Leave a comment