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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: Two Elliott Wave Counts Pointing Higher  0 comments
    Nov 14, 2013 8:14 AM

    Count #1

    USDJPY is moving sharply higher since the NFP report. Pair is now above 99.40 so it looks like price is moving up in third leg towards 100.60/70 region after recent retracement back to 99.00 area was just a small correction of wave 3. If our primary count is correct then pair must accelerate sharply to the upside as we expect wave there of three, typically the strongest wave.
    (click to enlarge)

    Count #2
    If pair will turn sharply bearish from any reason and maybe closed on daily basis beneath 99.00 then it may be worth it to keep on this alternate bearish count.

    (click to enlarge)

    Written by www.ew-forecast.com

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