USDJPY and Nikkei225 Both Looking Bearish - Elliott wave Analysis

Hi traders,

The stock market remains under pressure at the start of the US cash market, so USDJPY cannot break above 112.50 resistance. Therefore, I am looking for a triangle pattern which may cause another leg down soon into wave 5 of A)/1) towards 111.50. At the same time we see also Nikkei225 breaking below the channel support; decisive move through it would be very bullish for JPY next week.

USDJPY, 1h

USDJPY

Nikkei225, Daily

Nikkei

 


 

 

 


 

Interested in active FX Elliott Wave labeled charts on a daily basis. Now its your time; we have Limited Offer; get a 14 day trial for 1€.
Check our website www.ew-forecast.com for more details.

By using www.ew-forecast.com website, any services, products, and content contained here, you agree that use of our service is entirely at your own risk. You understand that there is a very high degree of risk involved in trading on the markets. We assume no responsibility or liability for your trading and investment results. The charts, and all articles published on www.ew-forecast.com are provided for informational and educational purposes only!

By using the information and services of www.ew-forecast.com you assume full responsibility for any and all gains and losses, financial, emotional or otherwise, experienced, suffered or incurred by you.