USDJPY, “The Falling Star”

“USDJPY will reach 115.00 in the first couple of months of 2014” -Deutsche Bank-. Well, we at Elliott Wave Markets think that we will not see another top from this pair.We think so, because we don’t rely on expert’s opinions or fundamental factors. We prefer looking at the charts, directly at market’s psychology. The first chart shows you the big picture 5-wave impulse:

usdjpy golqma

In order to determine if it is truly finished, we look at the smaller time frame – chart 2:

usdjpy 24.1.14

There are 5 waves as well. But we know that after every five waves, a correction follows. So, we expect USDJPY to head towards…let’s say 90.00 instead of 115.00.

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