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