Elliott wave Analysis: NZDJPY Update

Gregor Horvat Wavetraders

NZDJPY may have recently completed a three-wave decline labeled as A)-B)-C) at the 77.63 level, from where a new intra-day bounce followed. This bounce can be start of minimum three-wave reversal with wave A/1 leading the way. That said, we can see that an ending diagonal unfolded within final leg C) of a decline, which means that current recovery can go as high as to the starting point of this pattern, meaning price can reach 81.10 level in upcoming sessions.

NZDJPY, 4H

Disclosure: Please be informed that information we provide is NOT trading recommendation or investment advice. All of our work is for educational purposes only.

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Author

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

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