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USDJPY Elliott Wave

USDJPY Elliott Wave


Intraday
USDJPY Elliott Wave  1 Hour Chart
Tuesday, 27 March 2012 at 7:14:00PM AEST

Usd/Jpy made five waves up from the low, which means that temporary bottom is in place at 81.92 since we know that impulses always show direction of a current trend. As such, we expect more strength, and break to the upside in coming sessions, towards 84.30.

USDJPY Elliott Wave
Currency Trading


4Hour
USDJPY Elliott Wave  4 Hour Chart
Tuesday, 27 March 2012 at 6:05:00PM AEST

-corrective reversal
No change!
Usd/Jpy moved deeper than we firstly thought, and now found the support at 82.00; at previous correction. Well, move from the top can now be counted in five waves, which means that pair reached a temporary top and is now ready to make larger three wave of retrace, which we believe its wave 4). First leg wave A now appears complete so more gains and sideways price action towards 83.30 could be seen in the first part of this week before downtrend resumes.

USDJPY Elliott Wave
Elliott Wave Forex


Daily
USDJPY Elliott Wave   25 March 2012

-impulsive up-trend
After a weakness seen in the past week from 84.20 we are looking for a temporary top in place. The reason is a broken trend line from 76 that suggests that wave 3) found a top and that corrective pull-back is underway. As such, in coming week we will be observing a three wave of retrace which will represent wave 4)

USDJPY Elliott Wave
FX Trading Strategies


USDJPY Elliott Wave Weekly
18 March 2011 


-ending diagonal finished 

After an extended bullish waves on Usd/Jpy seen in the past few weeks, we decided to check developments on the weekly time frame. Well, we can see that price is now accelerating significantly after trend-line beak, connected from 2008. We need to respect what the market price is actually doing, and if we also consider a larger Elliott Wave pattern called an ending diagonal, then we may have seen a long-term low on Usd/Jpy around 75.70.

Our minimum expectations for that pair is a recovery to 61.8% retracement area; above wave X swing.

After an extended bullish waves on Usd/Jpy seen in the past few weeks, we decided to check developments on the weekly time frame. Well, we can see that price is now accelerating significantly after trend-line beak, connected from 2008. We need to respect what the market price is actually doing, and if we also consider a larger Elliott Wave pattern called an ending diagonal, then we may have seen a long-term low on Usd/Jpy around 75.70.

USDJPY Elliott Wave

Forex Technical Analysis

 

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