Hi Traders,
The long running uptrend of USDJPY (now at 117.91) - that started on OCT 31 2011 - could finally come to an end by topping in the area 124-126.
This should be followed by a retracement to the area around 111-109.
TARGETS
first up to:
likely: area 123.734-124.088
possibly: area 124.797-125.683
maybe: 125.759-126.330
then down to:
likely: 115.759-114.962
possibly: 111.683-111.329
maybe: 108.898
ELLIOTT WAVES
The monthly and weekly charts show that wave 9 is approaching the target. In the daily and 4-hour charts this would be wave 13.
In the 4-hour and 1-hour charts note wave 1 and 2 which mark the beginning and the end of the triangle. They will be followed by 3 wave up to the target.
monthly chart - click to enlarge
weekly chart - click to enlarge
daily chart - click to enlarge
4-hour chart - click to enlarge
1-hour chart - click to enlarge
The long running uptrend of USDJPY (now at 117.91) - that started on OCT 31 2011 - could finally come to an end by topping in the area 124-126.
This should be followed by a retracement to the area around 111-109.
TARGETS
first up to:
likely: area 123.734-124.088
possibly: area 124.797-125.683
maybe: 125.759-126.330
then down to:
likely: 115.759-114.962
possibly: 111.683-111.329
maybe: 108.898
ELLIOTT WAVES
The monthly and weekly charts show that wave 9 is approaching the target. In the daily and 4-hour charts this would be wave 13.
In the 4-hour and 1-hour charts note wave 1 and 2 which mark the beginning and the end of the triangle. They will be followed by 3 wave up to the target.
monthly chart - click to enlarge
weekly chart - click to enlarge
daily chart - click to enlarge
4-hour chart - click to enlarge
1-hour 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.