Elliott Forecast - USDJPY Impulsive Decline Portends Further Weakness | ResearchPool

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Elliott Forecast

Daud Bhatti

USDJPY Impulsive Decline Portends Further Weakness

July 14, 2023 By

Cycle from 10.21.2022 high is in progress as a . Down from 10.21.2022 high, wave a ended at 127.22 and rally in wave b ended at 145.09. Pair has resumed lower in wave c. Down from wave b, wave ((i)) ended at 144.19 and rally in wave ((ii)) ended at 144.91. Pair resumes lower in wave ((iii)). Down from wave ((ii)), wave (i) ended at 143.97 and rally in wave (ii) ended at 144.65. Internal subdivision of wave (ii) unfolded as a running flat. Up from wave (i), wave a ended at 144.75, wave b ended at 143.54, and wave c ended at 144.65. This completed wave (ii).

Down from wave (ii), wave i ended at 142.54 and rally in wave ii ended at 143.41. Pair resumes lower in wave iii towards 139.3 and rally in wave iv ended at 139.75. Pair then resumes lower in wave v towards 138.06 which completed wave (iii) in higher degree. Corrective rally in wave (iv) ended at 138.95. Near term, as far as pivot at 145.09 high stays intact, expect rally to fail in 3, 7, or 11 swing for further downside.

USDJPY 60 Minutes Elliott Wave Chart

USDJPY Elliott Wave Video

Source:-forecast.com/news/usdjpy-impulsive-decline-portends-weakness/

14/07/2023 1 EN

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Elliottwave-Forecast.com (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to thousands of clients. ElliottWave-Forecast has built a reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, Cycles, Proprietary Pivot System, we provide precise forecasts with up-to-date analysis for 52 instruments including FX majors, Gold, Silver, Copper, Oil, TNX and major Equity Indices. Our clients also have immediate access to our proprietary Actionable Trade Setups, Market Overview, 1 Hour, 4 Hour, Daily & Weekly Wave Counts. Weekend Webinar, Live Screen Sharing Sessions, Daily Technical Videos, Educational Resources, and 24 Hour chat room where they are provided live updates and given answers to their questions.

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Daud Bhatti

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