Pair is in wave ( iv ) pullback ideal support for which is 38.2 fib (1.4667). Expect this level to hold for continuation higher in the pair. As wave structure is bullish, we are only looking to buy dips and don’t like selling into the corrections.

Move up in the pair continues to extend and though the structure doesn’t look like a very pretty impulse, we like more upside in the pair. Short-term support lies between 1.4594 – 1.4667 and price should now stay above 1.4477 previous peak as it continues higher. We don’t like selling the pair into corrective swings […]

Pair has extended the move lower which is best labelled as a triple corrective structure. While below 1.4310 expect a test 1.4123 to complete wave X before the pair turns higher again. We don’t like selling the pair at such a late stage in the cycles.

Nikkei futures decline from 14990 initially looked corrective but given the amount of extension in 3rd swing, we like the idea of an incomplete impulse. Expect a test of 13313 to complete wave 3 before we get a wave 4 pull back and a new low to complete a 5 wave drop from 14990 i.e […]