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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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  • Elliott Wave Forecast: USDJPY 0 comments
    Jul 12, 2013 10:29 AM

    USDJPY spiked higher on the intra-day basis, through wave (a) highs and reversed down from 99.65. We are wondering if maybe wave B/2 is already complete. Well, daily close price, the most important price of the day, below corrective channel support line will put weakness in play. If we see another push higher, up to 100 then wave B/2 will become more complex, but still corrective leg and part of incomplete larger three wave decline from above 101.30. In any case bias is to the downside.

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