Short term Elliott Wave view in USDJPY suggests that rally to 115.48 on 3/10 ended Intermediate wave (X). Decline from there is unfolding as a zigzag Elliott wave structure in which the first leg wave A is subdivided in 5 impulsive waves. Down from 3/10 high, Minute wave ((i)) ended at 114.46, Minute wave ((ii)) ended at 115.195, Minute wave ((iii)) ended at 112.88 and Minute wave ((iv)) ended at 113.56. Cycle from 3/10 high is mature and Primary wave A has enough extension to be called complete, but more downside towards 111.56 – 111.95 area can’t be ruled out to complete Primary wave A. Afterwards, pair should bounce in Primary wave B in 3, 7, or 11 swing to correct cycle from 3/10 high before the decline resumes. A break above proposed Minutte wave (iv) at 112.9 may be an early indication that Primary wave A has ended.
FWP Network > Forexhound.com > Analysis > Forex Analysis > Forex Market Overview > USDJPY Elliott Wave View: Ending impulse
USDJPY Elliott Wave View: Ending impulse
By Elliottwave-Forecast.com ()
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March 21, 2017
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Comments Off on USDJPY Elliott Wave View: Ending impulse
Forex Market Overview · DXY, Elliott Wave Analysis, ElliottWave, Forex, USDJPY
Forex Market Overview · DXY, Elliott Wave Analysis, ElliottWave, Forex, USDJPY

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