• 9 hours Saudis Eye Billions As Stocks Get Emerging Market Boost
  • 12 hours Airbnb In Acquisition Mode Ahead Of IPO
  • 15 hours Gold Hangs At $1,300 Ahead Of Fed Meeting
  • 17 hours Champagne Sales Slow As European Economic Worries Grow Louder
  • 1 day Putin Signs “Digital Iron Curtain” Into Law
  • 1 day Russian Metals Magnate Sues U.S. Over Sanctions
  • 2 days Tesla Looks To Jump Into Indian Market
  • 2 days Global Banks Lay Groundwork To Re-Inflate Asset Prices
  • 2 days Homeowners Experiment With Risky New Investment Trend
  • 2 days U.S. Tech Stocks Look Increasingly Vulnerable
  • 3 days De Beers To Expand World’s Most Profitable Diamond Mine
  • 3 days Ford CEO Gets Raise After Massive Layoff Round
  • 3 days Germany’s Flirtation With Recession Could Cripple The Global Economy
  • 4 days Where To Look As Gold Miners Inch Higher
  • 4 days Google Faces Billions In Fines From European Regulators
  • 5 days The Energy Industry Has A Millennial Problem
  • 5 days Russian Banks Scramble For Sanction Loopholes
  • 6 days Gold ETFs Take A Hit After Four-Month Run
  • 6 days European Union Takes Aim At Ten New Tax Havens
  • 6 days Goldman Defends Trillion-Dollar Corporate Buyback Spree
Lending: The Good, Bad, And Ugly

Lending: The Good, Bad, And Ugly

Aristotle said, “The most hated…

The Chatroom Cartel Running Global Bond Markets

The Chatroom Cartel Running Global Bond Markets

Eight major banks have 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