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We are providing technical analyzes for the financial markets and how they behave based on the Elliott Wave Principle. The Elliott Wave Principle gives you a method for identifying at what points a market is most likely to turn. And that, in turn, gives you guidance as to where you might enter... More
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  • USDJPY Turns Bearish-Elliott Wave 0 comments
    May 24, 2013 4:46 AM

    USDJPY reversed sharply lower in this week from 103.70 area where we see signs of a temporary top. Also notice that recent decline has extended through 102.00 wave (b) support which is very important sign for completed bullish waves, because after a long time we have seen a break of the former swing low. With that in mind, we assume that we have seen a top on this pair, ideally of an ending diagonal, but for minimum expectations we expect to see at least one more sell-off, either fall from the top is a corrective move or not. Daily close beneath the trend-line connected from April lows would be strong bearish view for the pair.

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