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

Elliott Wave Analysis On GBPJPY And EURJPY

GBPJPY

Pound keeps moving lower across the board, so we think that GBJPY will also stay under pressure for a few more sessions if we consider falling USDJPY. On the 4h chart we are looking at reworked wave count which now looks like a completed flat in wave 4 at 143.00 area as decline from there can be counted in impulsive fashion without overlap in recent price move. As such, we think that GBPJPY can be headed to a new low before market may turn up again, but of-course that would be only after five waves down in black wave 5.

GBPJPY, 4H

GBP/JPY 4-Hour Chart


EURJPY

EURJPY may see some upward reaction in the very short-term towards 114.00 where we think that upside would be limited based on latest updated count which shows that current minor recovery can be wave 4 within ongoing downtrend. Reason for a bearish view is previously unfolded three wave bounce from 109.50 up to 118.43 that could be a correction, thus whole recovery should be fully retraced which suggests further weakness back towards the lows while 116.90 is not breached.

EURJPY, 4H

EUR/JPY 4-Hour Chart

 


Interested in our services? We have a Special Offer: Get 1 Month Access For 1€!! Grab the opportunity now at www.ew-forecast.com

 

Back to homepage

Leave a comment

Leave a comment