What the Charts are saying about Yen - forex target trading reviews

What the Charts are saying about Yen ~ forex target trading reviews

The Yen is at an interesting level now and so are currency pairs and other markets related to it. On a long note, its been dipping since 2011, now at 2007 low.

 Markets go up and down, in spiral form. When the price of a particular instrument goes up, its a normal thing to think of a dip. 

 

The question now is Where? and When?. 

Let me start this analysis from Nikkei 225 index which has a very strong negative correlation with the yen. 

 

Typically when Yen falls Nikkei rises and without any surprises, Nikkei has soared from 2007/08 to a 20 years high region. A fall is expected soon.

 

The charts below show the elliot wave count of Nikkei on the Monthly and Weekly time frames and are looking very strong on the upside. 

 

100% projection of its 5th wave from the 4th wave falls at 2165 and its neighborhood. 

 

The long term rally could end at this resistance level.

 Nikkei is expected to continue the rally to complete the last leg of the sub-wave of the long term bullish move.

 

 

 

The dip in Yen and rally in Nikkei are in very clear impulsive moves and a correction is expected targeting at least the region of the 4th wave of these moves.

Yen currency pairs like CadJpy, GbpJpy, AudJpy, NzdJpy and UsdJpy have been on a long term bullish impulsive move.

The UsdJpy is expected to follow this same pattern as shown in the chart below which also shows the possibe reversal zone by fibonacci extension tools.

AudJpy is illustrated in the chart below to complete the last leg of the long term impusive subwave. The possible region of reversal is indicated.

GbpJpy analytical chart is shown below.

And finally CadJpy

 

 

Updates will come as more price data are included to ascertain this analysis.

I will post updates.

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Dollar Index Preparing For A Deep Correction - forex trading course reviews

Dollar Index Preparing For A Deep Correction ~ forex trading course reviews

After a very long time, the dollar is finally testing the bearish side. 

The long term advance  that ended temporarily or permanently at 100.765 is appearing to favour the bearish side in what looks like a deep correction. 

 

Double and triple zigzag corrective patterns form typical swings of higher highs/ higher lows for the bulls and lower highs/lower lows for the bears. 

 

Price is expected to break below 93.06 (the last low) to form a lower low, and that would be a typical double zigzag. The dip is projected to get to 90.30. 

 

This should affect Usd currency pairs especially the Eurusd which is presently forming the same pattern to the upside.

Price will prove everything right or wrong. Elliot waves theory helps to follow price and project possible turning points.

The labelled support and resistance levels in the chart below should be watched with keen interest.

Updates will come as price movement proceeds

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Yen Is Expected To Strenghten Across Board - forex trading reviews blogs

Yen Is Expected To Strenghten Across Board ~ forex trading reviews blogs

On 3rd June we had an analytical report titled What the Charts are saying about Yen. We saw how Yen has dipped for many years, from 2011 and making a 4 year low.

We made comparisons with other Yen pairs and forecast an imminent reversal in the event of things, but not until further movement up.

We forecast levels of reversal for UsdJpy, CadJpy, GbpJpy, AudJpy. Among all these pairs, we chose to look closely at UsdJpy and CadJpy

#UsdJpy

Price broke above the intraday triangle (intra day wave 4) to move in a clear 5-wave impulse to the upside. 

The intraday wave structure is labelled below.

 

 

The wave intraday 5-wave perfectly fulfill all elliot wave rules and guidelines for an impulsive wave.

As expected, price crashed below the 4th wave and then retraced to 124 which is a good intra day resistance. 

Price could crash further to 119 ( the low of the longer term 4th wave).

 

We took our sell order at 124 last week with stop loss slightly above 126 and our first ultimate target at 119. 

 

We had the courage to take this trade because we percieved the Yen might start strenghtening across board and with a deeper bearish corrective bias on Usd Index. 

 

#CadYen

 

After the completion of the triangle 4th wave, we took the ride up and exited at 101 for  a profit of 170pips.

 

 Price forming a rejection sign at a crucial resistance level. It might start falling from there as expected

 

 

 

Updates will come later.

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Nikkei 225 index at 15 years high What for Yen - forex trading apprentice review

Nikkei 225 index at 15 years high What for Yen ~ forex trading apprentice review

Japanese stock index, Nikkei 225, nearing 15 years high. Massive impulsive move about to complete probably at 20600-50 level. Massive correction is expected to the south. This could spell something for the YEN

Posted by Sanmi Adeagbo on Sunday, May 24, 2015

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