• 6 hours Wealthy Investors Have Been Fleeing Stocks Since April
  • 1 day Thorium Could Kickstart A New Nuclear Boom
  • 2 days Is A Massive Gold Rally On The Horizon?
  • 2 days Can Tesla Really Produce A $25,000 Self-Driving Electric Car?
  • 3 days Gold Miners Brace For Seasonal Downturn
  • 3 days The Silver Plunge Continues
  • 4 days 7 COVID Vaccine Stocks To Plan Upside Moves
  • 4 days Rhodium Climbs Reaches Record Highs
  • 5 days Tesla Tumbles After Battery Day Fails To Impress
  • 5 days Three Energy ETFs To Watch This Decade
  • 6 days What To Do With $2 Trillion In Suspicious Bank Transactions?
  • 7 days How The Stock Market Predicts Electoral Victory
  • 7 days Tesla's "Battery Day" Could Deal A Blow To Cobalt Miners
  • 8 days New TikTok Deal Hopes To Bypass National Security Concerns
  • 8 days Where Will Gold Go From Here?
  • 9 days COVID-19 Is Fueling A Pastic Waste Crisis
  • 9 days Gold Output Set To Decline
  • 10 days Uber And Lyft Look To Go Electric
  • 11 days COVID-19 Is Crushing Palladium Demand
  • 12 days This ‘Once-Boring’ Tech Company Is Now Super Hot
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…

Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

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