Hi Traders,
Please, subscribe this newsletter to get the next feeds straight to your mail box. NOTE: I won't be able to see or retrieve your email address.
ANALYSIS
The present rally of the USDJPY (now at 113.50) started on Sept 8th, 2017 and should temporarily top around 115.6-116.0. The subsequent retracement could bring it back to 112-111 before resuming the uptrend.
ELLIOTT WAVES
The red trend line on the historical chart and the magenta trend line on the monthly chart represent the 69 y/o historical trend line drawn from level 320¥ through the tops at 280¥, 265¥ and 126-125¥.
That trend line is about to be crossed (breakout) around the 116-119 level by the present uptrend.
Monthly chart, click to enlarge
Please, subscribe this newsletter to get the next feeds straight to your mail box. NOTE: I won't be able to see or retrieve your email address.
ANALYSIS
The present rally of the USDJPY (now at 113.50) started on Sept 8th, 2017 and should temporarily top around 115.6-116.0. The subsequent retracement could bring it back to 112-111 before resuming the uptrend.
ELLIOTT WAVES
The red trend line on the historical chart and the magenta trend line on the monthly chart represent the 69 y/o historical trend line drawn from level 320¥ through the tops at 280¥, 265¥ and 126-125¥.
That trend line is about to be crossed (breakout) around the 116-119 level by the present uptrend.
The monthly chart shows a huge retracement a-b-c on the making where wave-a and wave-b are fully deployed already. Conversely, Wave-c is actually unfolding right now and should top around 150-165. Others think it will top at 230.
The weekly chart reveals that the present uptrend - started in June 2016 - has already completed 4 waves up. Wave-5 should reach level 127 as a minimum.
The daily chart shows wave-4 and the unfolding of wave-5. The 4-hours chart reveals that we are approaching the top of wave-3 (in blue, font 12) around 115.6-116.0.
Historical chart, click to enlarge
Weekly chart, click to enlarge
Daily chart, click to enlarge
4-hours chart, click to enlarge
No comments:
Post a Comment
Hi Traders. Tell me if you agree or (politely) disagree.
Note: only a member of this blog may post a comment.