Tag Archives: JPY

USD/JPY Price Congestion Prior To FED

Nenad Kerkez

As inflation recently in the US has had a recent slight increase near 1.9% p.a., it is still below their target range. Despite this, Actual QoQ GDP Growth has increased to 3%, well ahead of forecast and consensus, and this has seen Forward Company Earnings improve in the US also. The Fed will be conscious of all of this, however, as they saw a small increase in Unemployment and Inflation still below their target levels, they are inclined to keep the rates flat for this month. more…

USDJPY And German DAX

Grega Horvat

Good morning traders, and welcome to a new busy month which could be very interesting for the markets, that began with a new North Korea nuclear test that caused a gap lower on stocks.

Normally markets quickly recover after such events, so wondering if this time will be the same. Gaps as you know will normally be filled, so with that in mind, we think that upside on E-mini S&P500 is not done yet and that USDJPY can be in fact in final stages of a current wave c. more…

GBPJPY: Ending Correction

Daud Bhatti

GBPJPY Short Term Elliott Wave suggests that the decline to 8/23 low at 139.27 ended Minor wave W. Minor wave X bounce is currently unfolding as a double three Elliott Wave Structure. Minute wave ((w)) of X ended at 141.47, Minute wave ((x)) of X ended at 139.98, and Minute wave ((y)) of X is subdivided into a FLAT. Minutte wave (a) of ((y)) ended at 141.09 and Minutte wave (b) of ((y)) ended at 140.39. Minute wave ((y)) of X has now reached 1.236 extension of ((w))-((x)) and thus the cycle from 8/23 low (139.27) is mature. Sellers may appear anytime from 142.65 – 143.49 area for an extension lower or at least a 3 waves pullback. We don’t like buying the pair. more…

USDJPY Resuming Lower

Daud Bhatti

Short term USDJPY Elliott wave view suggest the decline from 7/11 peak is unfolding as a double three Elliott wave structure. Decline to 108.71 low ended Minor wave W and Minor wave X bounce ended at 110.95 peak. Subdivision of Minor wave Y is unfolding as a Zigzag structure. Minute wave ((w)) of ((Y) ended at 108.59 low and Minute wave ((x)) of (Y) bounce ended at 109.82. The pair has reacted lower from the blue box, but the move lower will get validation only with a break below 108.59. Until then a double correction in Minutte wave ((x)) still can happen. more…

GBP/JPY MACD Divergence At Monthly Support

Nenad Kerkez

The GBP/JPY has made a temporary bottom at 141.25 and we can see MACD divergence that could push the price to the upside.141.25-50 is the zone where price might spike towards the 142.60-85 where new sellers might be waiting. Only a clear 4h close or h1 momentum above 142.90 should target 143.40. Bearish continuation happens only below 140.90, but at this point, the GBP/JPY is supported by Monthly and Weekly supports and bullish MACD divergence. more…

Elliott Wave Analysis: GBPJPY and USDJPY

Grega Horvat

GBPJPY is making a five-wave bearish structure within blue wave c as part of a three-wave consolidation. We see current intra-day structure unfolding an overlapping movement, which can mean a potential ending diagonal within red wave v) of c can be in progress. If that is the case, then once current red wave v) fully unfolds a sharp and strong reversal to the upside can come in play. more…

USD/JPY Descending Trendline Marks The Downtrend

Nenad Kerkez

The USD/JPY has been dropping, making a descending zig-zag pattern which marks the downtrend. The POC zone 112.40-62 (D H4, Trend line, ATR pivot, EMA89) could reject the price towards 111.70 and if the 111.65 breaks to the downside 111.40 and 111.00 should be next. If we don’t see a retracement towards the POC, pay attention to 111.65 and possible breakout below. However if the price breaks above 112.70 we might see a retest of 113.00-113.15 zone.
more…

Powerful Reversal Pattern On EURJPY Points Lower

Grega Horvat

EURJPY can be trading in final stages of a higher degree impulse, which means a three wave reversal lower can be in view. Current rally can be final wave 5) in the making, that is more and more looking like an ending diagonal pattern. An ending diagonal pattern is a powerful reversal pattern, that can after its completion push prices in the opposite direction. Hopefully, current Fibonacci ratio of 261.8 will act as a resistance and also push prices lower. more…

CHF JPY Bullish Elliott Wave Sequence

Daud Bhatti

In this article we will take a look at Elliott Wave structure of CHF JPY pair since the low at 4.16.2017. Move up from 4.16.2017 (107.67) to 5.25.2017 (115.16) was in 7 swings and completed wave (W). Then we saw the pair pull back from the highs. Below is the 480 minute chart presented to clients on 11th June 2017 where we were looking for pair to end the correction in 112.87 – 111.52 area and resume the rally for new highs. more…

USD/JPY Zig-Zag Uptrend But Watch For D H4 Resistance

Nenad Kerkez

The USD/JPY has been moving in a zig-zag pattern that indicates uptrend but at this point its close to ATR top/D H4 resistance. We can also see a bearish divergence so we might expect some pullback. The POC zone is 112.00-15 (38.2, D L4, EMA89, ATR pivot). If the price gets there we might see a bounce towards D H5 112.90. However if the price gets to ATR top/ D H5 we might see a rejection towards 112.20-00 again. So watch for both zones in terms of trading as the price might reject from both POC and D H5/ ATR top confluence. more…