$USDJPY Short Term Elliott Wave Analysis 01.22.2016

Revised short term Elliott Wave cycle suggests cycle from 12/18 peak has ended with with (Y) at 115.96.  From this level, pair has bounced in 3 swings so far. Wave W is expected to complete at 117.96 – 118.32 area, then it should pullback in wave X before potentially another leg higher to finish wave (X) for a total of 15 swings. Once wave (X) is complete later, pair should resume the decline either to new low or at least 3 waves pullback. We don’t like buying the proposed bounce.

4JPY 6020160121212350

At EWF we offer  24 hour coverage of 50 instruments from Monday – Friday using Elliott Wave Theory as primary tools of analysis. We provide Elliott Wave chart in 4 different time frames, up to 4 times a day update in 1 hour chart, two live sessions by our expert analysts, 24 hour chat room moderated by our expert analysts, market overview, and much more! With our expert team at your side to provide you with all the timely and accurate analysis, you will never be left in the dark and you can concentrate more on the actual trading and making profits. Check out our 14 day Free Trial to sample everything EWF has to offer!