• 3 hours Brexit Woes Weigh On The British Pound
  • 4 hours Forget Turkey, This Is The Biggest Threat To European Finance
  • 5 hours There’s No Hiding From Google
  • 6 hours Turkish Lira Bounces Back After Qatar Bailout Pledge
  • 7 hours What Happens If Tesla Goes Private?
  • 9 hours China's Most Powerful Weapon In The Trade War
  • 11 hours Can The S&P 500 Shake Off Negative Sentiment?
  • 1 day Standards Go Out The Window As Employers Struggle To Fill Jobs
  • 1 day The Two Trillion Dollar Markets Amazon Hasn’t Conquered
  • 1 day Digital Supermodels Outperform Humans
  • 1 day France Could Lose Billions In EU Trade Route Redirection
  • 1 day Beer Giants Are Striking Out With Millennials
  • 1 day What Is Bakkt And Can It Take Bitcoin Mainstream?
  • 1 day Tesla’s Board Delivers A Stern Message To Elon Musk
  • 2 days Bitcoin Could Challenge Gold As Major Asset Class
  • 2 days Google In Talks With Tencent Over Cloud Business
  • 2 days Tech Giants Charge Deeper Into $8 Trillion Healthcare Industry
  • 2 days Lockheed Stock Soars On $480M Pentagon Contract
  • 2 days Ontario Moves To Slow Cannabis Drive
  • 2 days The Tech That Will Shape The Future Of Megaprojects
Time To Buy A Lada? Russian Auto Sales Are Booming

Time To Buy A Lada? Russian Auto Sales Are Booming

Russia’s flagship carmaker was once…

U.S.-Turkey Tensions Take A Dangerous Turn

U.S.-Turkey Tensions Take A Dangerous Turn

U.S.-Turkey tensions have reached a…

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 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