Elliott Wave Analysis: USDJPY Trading Higher Within Higher Degree Correction

0
17

A strong rally on USDJPY last week above 106.00 suggests that market is in bigger and more complex recovery which can be wave B of a higher degree as shown on a daily chart. If that’s the case then on the 4h chart leg up from August low is sub-wave C) that should reach much higher levels after a pullback down into a sub-wave four, which can be around the corner now since we can count five minor waves up in extended wave 3 near 261.8 Fib. resistance.

Interested in our services ? Then visit our homepage at www.ew-forecast.com and take a glace at some of our charts.You can even subscribe to our Twitter account -> @ewforecast

USDJPY, 4H

usdjpy-4

USDJPY, Daily

usdjpy-d

SHARE
Previous articleBayport International Holdings Inc (OTCMKTS:BAYP) Shows Interest in Cannabis Industry
Next articleRedefining the Short Term Recruitment Industry —¬†ChronoBank
Gregor Horvat first made his name in Slovenia and has become world famous in the forex market since 2003. He is both a trader and a technical analyst who offers trading strategies on the Fibonacci and Elliot Wave principle. His main focus is on currency pairs, U.S. stock market, gold and oil. Gregor Horvat found the forex service offered on http://www.ew-forecast.com/. This website provides traders technical analysis, while putting emphasis on behavioral patterns. These are derived from the Elliott Wave Principle (EWP). Traders who are interested in the entry and exit positions, and he probability of the former and latter follow the EWP on a regular basis.