• 13 hours Will Biden Lift Sanctions On Venezuela?
  • 1 day How To Play The Next Stage Of The Marijuana Boom
  • 1 day India Looks To Import More Venezuelan Oil Under Biden
  • 2 days 3 Unstoppable Stocks With A Biden Boost
  • 2 days The Biggest Biotech Story Of 2021?
  • 2 days Biden Looks To Rejoin Paris Climate Agreement
  • 3 days Capital One Fined Again For Money-Laundering Failure
  • 3 days The Star-Studded Fund Backing Clean Energy Startups
  • 4 days The Unexpected Retail Segment On Track To Hit $68B
  • 6 days Oil Demand Falters On New Wave Of Lockdowns
  • 7 days Signal, Telegram Gain Ground As Social Censorship Breaks Headlines
  • 8 days Investors Should Be Worried About Tech Stocks
  • 10 days Battle For Market Share Intensifies In COVID Streaming War
  • 12 days Censorship Is Now Private, And That’s Scary
  • 15 days Markets Hit ‘Ignore’ Over Capitol Coup
  • 16 days Tesla’s China Strategy Is Yet Another ReasonTo Double Down
  • 17 days NYSE Reverses China Company Delisting Plans … For Now
  • 19 days The Dollar Could Remain Weak For Years To Come
  • 22 days The Simple Secret To Tesla-Like Gains
  • 23 days US-Listed China Stocks Have 3 Years To Become Transparent
How Millennials Are Reshaping Real Estate

How Millennials Are Reshaping Real Estate

The real estate market is…

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…

The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

  1. Home
  2. Markets
  3. Other

USDJPY Elliott Wave Analysis

LONG – to above 136.00 in wave [C]


30 min

USD/JPY 30-Minute Chart
Larger Image


4 Hours

USD/JPY 4-Hour Chart
Larger Image


Daily

USD/JPY Daily Chart
Larger Image

My Bias: Long towards 1550
Wave Structure: ZigZag correction to the upside.
Short term wave count: Upside from 1120~, target 1500
Long term wave count: Topping in wave (B) at 1500
Important risk events: JPY: N/A. USD: Unemployment Claims, FOMC Member Evans Speaks.

USDJPY continued its downward bias today,
I am still looking for a five wave structure to the downside to complete wave ‘v’ brown.
The larger wave count demands a completed form, so todays minimal action must be the beginning of wave 3 red.
Another 200 points or so will complete that larger Elliott wave structure and wave 3 red should bring us most of the way there.

The opposite technical picture is evident on the 4hr chart compared to Cable and EURUSD, as the price drifts to the downside the technicals are showing waning momentum.
Both MACD and RSI are on the verge of crossing to the upside, in what will be the first indication that wave [iv] is completing.

 

Back to homepage

Leave a comment

Leave a comment