Short term USDJPY Elliott Wave view suggests the pullback to 111.7 low on 6/29 ended Minor wave X. Up from there, wave Y is unfolding as an Elliott wave zigzag structure where Minute wave ((a)) ended at 113.68 and Minute wave ((b)) ended at 112.86. Up from there, Minutte wave (i) of ((c)) ended at 114.3. Minutte wave (ii) of ((c)) ended at 113.96, but a break above 114.3 will add validity to the view that the next leg higher has started. Until then, a double correction in Minutte wave (ii) still can’t be ruled out before pair resumes the rally higher. Near term, while dips stay above 112.86, and more importantly as far as pivot at 111.7 low stays intact, expect pair to extend higher. We don’t like selling the pair.
USDJPY 1 Hour Elliott Wave Chart
We provide precise forecasts with up-to-date analysis for 78 instruments. These include Forex, Commodities, World Indices, Stocks, ETFs and Bitcoin. Our clients also have immediate access to Market Overview, Sequences Report, 1 Hour, 4 Hour, Daily & Weekly Wave Counts. In addition, we also provide Daily & Weekend Technical Videos, Live Screen Sharing Sessions, Live Trading Rooms and Chat room where clients get live updates and answers to their questions. The guidance of ElliottWave-Forecast gives subscribers the wherewithal to position themselves for proper entry and exit in the markets. We believe our disciplined methodology and Right side system is pivotal for long-term success in trading
Back
