USDJPY Elliott Wave Analysis: Corrective Rally

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On USDJPY we still believe that price will  turn up for a wave (c) rally towards 103.40, early this month. The reason is slow and sideways price action in 101.00-102.80 area that looks corrective, so we suspect it’s wave (b), still only second leg of a minimum three wave structure that is needed for accomplished correction.

USDJPY 4h Elliott Wave Analysis

usdjpy elliott wave analysis

We are looking here at the USDJPY where rally from 101.18 can be unfolding impulsively. We still need another leg up to complete a pattern, but at the moment it looks promising. I will keep a close eye on that one.

USDJPY 1h Elliott Wave Analysis

usdjpy elliott wave analysis intraday

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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.