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Elliott Wave Analysis On 10 Year US Notes And USDJPY

10 Year US Notes

10 year US notes just fell to a new low, beneath September 13th with wave 5 shown on intraday chart which means that corrective bounce can be around the corner. Also, its less than 24 hours till NFP so market may slow down for corrections. That said, be aware of a three wave retracement, ideally back to 131.12 in the near-term.

10 Year US Notes, 1H

10-Year US Notes 1-Hour Chart


USDJPY

If 10 year is going to accomplish its bearish impulse, then USDJPY will also turn for a minimum three wave decline. We see pair in 5th wave also, while RSI shows strong divergence so we need to be aware of a turn. However, pair is in a strong run this week, so let's not be to quick and rather wait on broken trendline support before we may finally call an A-B-C correction. if pair will stay supported by a lower channel line then next level to watch is 104.31 from start of September.

USDJPY, 1H

USD/JPY 1-Hour Chart

 


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