USDJPY

[Samirofi]

The 110 price level (red) could be a resistance level which causes price to stall or retrace.


4 hour USDJPY:



The USDJPY is behaving choppier with the 110 resistance close by, which is indicated by the trend lines (magenta). The wave count is subject to change depending on how price reacts to the 110 resistance zone.


60 min USDJPY:

[Samirofi]

Whether the USDJPY has completed its wave 4 (red) correction is the key question. Usually wave 4’s tend to expand into bigger zones so a break of the 110 resistance (red line) could take a while.


4 hour USDJPY:



I am expecting an ABC correction (purple) which completes wave 4 (red).


60 min USDJPY:

[Samirofi]

The USDJPY is most likely in a wave 4 (red) correction. With the break of the support trend line it seems likely that price will retrace to the 38.2 Fibonacci retracement level.


4 hour USDJPY:



An ABC zigzag pattern (blue) might take place to complete wave 4 (red).


60 min USDJPY:

[Samirofi]

10/10/2014

[Samirofi]

USDJPY is moving sideways as the currency pair doesn’t know if it should be tracking the falling stock market or the rising USD. Well, we see wave c) still unfolding, with wave v coming to complete an ending diagonal in wave c) in the near term. A bounce from the lows and back above 108.00 or 108.73 would be a nice bullish turn for the pair.

USDJPY 1h Elliott Wave Analysis

[Samirofi]

November 24

4 hour USDJPY:
The uptrend has been strong but with divergence present (purple line) and price getting closer to 120, a bigger pullback could become a serious option soon.

[Samirofi]

November 25 - 4 hour USDJPY



The uptrend has been strong but with divergence present (purple line) and price getting closer to 120, a bigger pullback could become a serious option soon.

[Samirofi]

USDJPY began the week with an upwards move, but the pair is now turning sharply down through the support channel line connected from 117.22. So, it looks like that five wave rally from 117.22 is now complete at 119.12. We have also see a nice reversal on the E-mini S&P500 recently so it should not a be a surprise to see even stronger JPY while 10 year US notes are rallying.

[Samirofi]

update: 4 Dec 2014

[Samirofi]

Update: 11 Dec 2014