Sunday 4 May 2014

USDJPY defeating US reports

Hi Traders,

The USDJPY (now at 102.18) is heading towards the supports at 100.73-100.64 and 98.35-98.31 (see weekly chart) despite the best US unemployment report of the last 5 1/2 years.


likely: 100.73-100.64
possibly: 98.35-98.31
maybe: 96.86-96.77


The weekly chart shows that wave 4 (in black, font 9) is not complete. After waves 1&2 (in green) we now started wave 3 to the theoretical target at  98.35-98.31, ie. the target within wave 4 of a smaller degree. Then the uptrend might resume.

monthly chart - click to enlarge

weekly chart - click to enlarge

daily chart - click to enlarge

wave oscillator over the daily chart - click to enlarge

4-hour chart - click to enlarge

1-hour chart - click to enlarge 

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