USDJPY False Breakout Right On Schedule

usdjpy elliott wave analysis july 10

USDJPY’s rally from 108.80 came to its natural end last week, when the pair climbed to 114.50. The rate exceeded the mid-May high of 114.36 for what is usually called a “bullish breakout.” Unfortunately, instead of rising even more, the U.S. dollar reversed sharply to the south to reach 111.55 yesterday for a decline of almost 300…

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Trump Has Nothing to Do With USDJPY’s Reversal

Donald J. Trump officially sworn as the 45th president of the United States yesterday. And if the stock market remained relatively calm during the week of his inauguration, the USDJPY pair has been very interesting to watch. After opening at 114.31 on Monday, it fell to 112.56, before bouncing back up to 115.61, only to close…

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GBPJPY a Slave to an Elliott Wave Pattern

On December 15th GBPJPY climbed to 148.45 – the culmination of a rally, dating back to October 7th, when the pair fell to as low as 122.64. Unfortunately, just when it seemed that the bulls are holding the wheel, the bears somehow managed to prevail and drag the rate 600 pips lower – to 142.48 as…

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CHFJPY Approaching Fibonacci Resistance

It has been over five months since CHFJPY began recovering from as low as 101.74 in June. During this time, the pair managed to gain over 1000 pips and is currently trading slightly above 111.00. This impressive rally might make most people think it is time to join the new uptrend before it is too…

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Riding GBPJPY’s Post-Election Rally

GBPJPY bulls must be very pleased with what November brought them. The pair has been steadily rising since the U.S. election, which caused a decline to 126.70. Nine days later, today GBPJPY climbed to as high as 137.57 and is currently hovering around 137.10. Could this impressive rally be predicted, especially after the strongly negative…

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USDJPY and the Sudden Bullslaughter

Last Friday, October 28th, USDJPY rose to a high of 105.53, but eventually closed the week at 104.71. The trend was clearly up since the end of September and Friday’s dip was probably embraced by the bulls as another buying opportunity. Unfortunately for them, 105.53 turned out to be a major top. Instead of continuing to…

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USDJPY Has No Respect For Bearish Opinions

USDJPY is having a good run recently. The pair started the week from 101.17, but quickly gained traction and is currently trading above 103.60. Despite the fact that it has been in a strong downtrend since June 2015, USDJPY, it turns out, could still offer bullish opportunities. In order to get advantage of them, the…

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Who Saw USDJPY’s Crash Coming?

Last week, the USDJPY pair opened at 102.02 and undertook an impressive rally to 104.31, before settling at 104.01 for the weekend. After such an impressive bullish run, it is quite normal to expect that the uptrend is going to continue. But since Monday, September 5th, USDJPY has been nothing more than a disappointment. The…

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Foreseeing A Broken Trend Line in USDJPY

At the start of last week USDJPY was trading slightly above the 100.00 mark after falling from as high as 107.49 in mid-July. Usually, staying with the trend is a profitable approach, so basically, joining the bears would have made sense to most analysts. Usually, however, does not mean always, because no trend lasts forever.…

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Riding GBPJPY’s Long Term Roller Coaster

GBPJPY topped at 195.87 in June, 2015. During the last one year, the pair lost over 67 figures, falling to as low as 128.76 last week. Prior to this crash, there was a strong rally from 116.83. So, a 79-figure bullish run was followed by a 67-figure sell-off. Well, the FOREX market could really be…

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GBPJPY Ready to Break the Consolidation?

GBPJPY has been moving sideways between 151.65 and 164.10 for more than three months now, which has probably made trading this pair extremely difficult. Just when you thought you finally know where GBPJPY was going, it decides to change its direction again. The best way to trade in such a directionless environment is to not trade at all…

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USDJPY 20 Days After the Forecast

USDJPY fell to as low as 105.54 on May 3rd and just when the picture was beginning to look more and more negative, the bulls decided they have had enough and came back to lift the pair to 110.58 so far. This 500-pip recovery must be a painful wound for the bears, which would have…

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USDJPY: Importance of Invalidation Levels

USDJPY started this week in the same tone as it finished the previous one. Last Friday, April 15th, the pair touched 109.73 only to close the day at 108.71. But on Monday things got even worse for the bulls, since USDJPY opened with a large gap to the south at 108.16. And just as everyone thought…

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USDJPY: One Pattern Is All It Takes

USDJPY is currently struggling to hold above 112.00, following a rally from 110.67 to 113.80. Last week’s recovery of more than 300 pips came out of the blue, just after the pair made a break below the previous bottom at 110.97. Most traders must have gone short at the breakout, which is understandable through the perspective…

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USDJPY Three Days Ahead of the FED

USDJPY just fell below the 111.00 mark. To be more precise, the pair slumped to 110.66. And while the majority would inevitably blame the Federal Reserve’s policy statement for the dollar’s weakness, the only thing traders actually care about is if the decline could have been predicted and how. The good news is that it…

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