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 […]

USDJPY mid-longer term cycles remain bullish when we view the recent pullback to be wave ( 4 ).  Either way, we remain bullish on the pair to continue to view dips as a buying opportunity [jwplayer mediaid=”100502″]

Wave (( b )) high appears to be in place @ 100.87 and wave ( b ) of (( c )) also appears to have completed @ 100.46 . While below 99.41 expect further weakness in the pair toward 97.56 (equal legs) to complete a corrective down cycle from 101.54. Further support comes @ 1.236 […]