• 2 hours Crypto-Mining Immigration Could Be The Start Of A New Trend
  • 2 days Hawkish Fed Sends Gold Prices Crashing
  • 3 days Bezos Is Heading To Space This Sunday
  • 6 days El Salvador’s Surprise Bitcoin Move
  • 9 days Markets Unfazed As Inflation Hits 13-Year High
  • 10 days How the Token Economy is Disrupting Financial Markets
  • 12 days FBI Investigating 100 Types Of Ransomware Attacks
  • 14 days Fed Ends Corporate Credit Emergency Lending Program
  • 16 days AMC Becomes the Latest Winning Meme Stock After GameStop
  • 17 days The Real Reason Your 401k Has Been Lagging
  • 18 days China Lifts Cap On Births, Allows Three Children Per Couple
  • 20 days The Market Is Ripe For Another GameStop Saga
  • 23 days Senate Grills Big Banks Over Pandemic Opportunism
  • 24 days Cannabis Has A Major Cash Problem
  • 25 days Ransomware Netted Criminals $350M In 2020 Alone
  • 26 days Russia Is Taking On Google
  • 27 days Chinese Regulators Deal Another Big Blow To Bitcoin
  • 28 days Ohio Residents Brave Vaccine for Chance To Win $1M
  • 30 days Inflation Is Coming. Are You Prepared?
  • 31 days Travel Might Get Another Supersonic Disruption
Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

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: USDJPY And USD Index

USDJPY is in a strong bullish mode for the last few months so recent pullback down to 116.00 was nothing else than just another correction within uptrend. We labeled fourth wave pullback that can be finished already based on recent break out of a corrective channel that makes room for higher prices within wave five of III that can see even 120-121 region this month.

USDJPY, 4H

USD/JPY 4-Hour Chart

USD index made a nice pullback down from 103.63 to 102.00 in the last two weeks. It's a clear three wave move that represents wave 4) of a higher degree that is now pointing higher into wave 5). If we are correct then market will make a new five wave rise above 103.63.

USD Index, 4H

US Dollar Index 4-Hour Chart

 


Interested in our services? Then visit our homepage at www.ew-forecast.com and take a glace at some of our charts. You can even subscribe to our Twitter account -> @ewforecast

 

Back to homepage

Leave a comment

Leave a comment