The Elliott Wave Principle is a market forecasting method, based on pattern recognition. If an analyst is able to recognize a pattern on the chart and knows what should follow, he could as well be able to predict what the market is most likely to do next. That is what we are going to try…
AUDJPY Preparing for the Next Sell-Off?
AUDJPY, currently trading around 81.25, has been rising since February 11th, when the pair touched 77.58. What should we be thinking about this recovery and how high could we expect it to travel? In order to be able to answer this question, we will apply the Elliott Wave Principle to the hourly chart of AUDJPY,…
GBPJPY Looks Filled With Doubts
Just as many other crosses, GBPJPY tends to make large movements in short periods of time. This week was no exception. The pair rose to 175.00 on Monday, but than fell to 170.02 so far. The real question we have to ask is whether the latest weakness is the resumption of the larger downtrend, which…
AUDJPY to Extend The Corrective Recovery
While the big picture outlook in AUDJPY remains clearly to the south, the smaller time frames may offer some short-term bullish swings. Elliott Wave patterns could be found on all degrees of trends, which gives us the opportunity to examine the 15-minute chart, in order to see if we could recognize something. It looks like…
EURJPY To Regain Positive Bias?
EURJPY rose heavily after the ECB ‘s policy statement on December 3rd. However, soon after that, the pair started declining again, reaching the lows near 131.02 today. Are we going to see all of the post-ECB gains erased or is this weakness only temporary? The chart below shows what the Elliott Wave Principle suggests EURJPY…
GBPJPY: What Is Next After The Target?
Two days ago, on December 7th, we published “GBPJPY: Two Counts, One Direction” to prepare you “for a 220+ pip slump in GBPJPY”. While the pair was trading near 186.10, the Elliott Wave Principle suggested it was weaker than it appeared to be. There were not one, but two bearish wave counts, so we had no…
GBPJPY: Two Counts, One Direction
GBPJPY bulls got discouraged near 188.80 on November 19th. The sell-off, which followed, led the pair to 184.32 just five days later. Since then the exchange rate has been very difficult to trade, making higher highs and lower lows all the time. However, it seems the market is finally giving us a clue on the hourly chart…
AUDJPY To The Target And Beyond
It was November 11th, when we published “AUDJPY To Regain Intraday Positive Bias?”. In that article the Elliott Wave Principle helped us come to the conclusion we should expect a significant recovery in AUDJPY. The next chart shows how the forecast looked like 11 days ago. This chart was all we needed to form our…
AUDJPY To Regain Intraday Positive Bias?
The Elliott Wave Principle is a forecasting method, based on chart analysis. It postulates that trends move in recognizable patterns, called waves. A five-wave impulse, which indicates the direction of the trend, is followed by a three-wave retracement in the opposite direction. When this 5-3 wave cycle is over, the trend resumes. The pattern could…
Support And Resistance
If you are new to technical analysis, you may have already heard about the “levels of support and resistance”, since they are among the most important things. But what do the terms “support” and “resistance” really mean? Well, technical analysis is hard to understand without a chart, so let’s see one. A support level is…
USDJPY Looks Like A “BUY” Right Now
USDJPY has been trading between 121.65 and 118.55 for more than a month now. Trading in ranges is quite difficult, so being able to predict when the consolidation is likely to end is essential. The Elliott Wave Principle suggests the USDJPY pair might just be ready for a large tradable move. Its direction, according to the analysis,…
AUDJPY And The “Black Monday”
It has been more than four months since we published “AUDJPY: Support Becomes Resistance”. On May 1st, 2015, when AUDJPY was trading near the 94.00 mark, the Elliott Wave Principle made us believe “we should prepare for much lower levels in AUDJPY from now on”. The chart below was the one and only reason we…
USDJPY Ready For One Last Push Higher
“USDJPY might lose another 400-500 pips in wave 4 of (5), before wave 5 of (5) to the upside begins. You might want to wait a while, before buying this dip.” This is an excerpt from “USDJPY Right On Track In 2015”, which we published on July 9th, 2015, when USDJPY was trading near 121.50.…
Elliott Wave Accuracy In USDJPY
A little over a week ago, on August 13th, we spotted a five-wave impulse to the downside, followed by a three-wave recovery on the 15-minute chart of USDJPY. According to the Elliott Wave Principle, the pair was supposed to head south again. The next chart was published in “USDJPY Sends A Bearish Message”, where we…
USDJPY Right On Track In 2015
On December 10th, 2014, we published an article, called “What To Expect From USDJPY In 2015?”. In that material we suggested that USDJPY is currently in wave 4 (orange) of 3 of (5). Here is how that forecast looked like seven months ago. Almost a month and a half later, on January 21st, 2015, the…
