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Elliott Wave Analysis & Forecast, USDJPY, W1, 20150902

gm September 02, 2015

USDJPY: This pair is now in final phase of impulsive rally from 75.56 (23-10-2011).  Blue wave 5 of red wave 5 is in progress and the ideal target for this wave is near 132-135 area where red wave 5 also finish and we expect long term top of this pair. But for now as long as previous low (weekly hammer) is intact we expect an impulsive rally towards 130 area. Position traders can buy at any price from here with adding lots near 118.30 with stop loss below the last week hammer can target 130 area or even higher.

muhiuddin
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gm

Posted by: gm

Currently working as Senior Analyst in Tijarat Network, a leading provider of in depth market analysis, research and trade recommendations for Forex, Stock, Indices and Commodities. Tijarat Network where analysts sit together, analyze technical and fundamental factors, conclude market direction and then issue analysis and forecast regarding where they believe the markets are heading. Elliott Wave Theory is a major factor that contribute in financial forecast. We value our reputation and always fulfill our obligations toward clients and partners.

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1 Comments

  1. Anonymous2 September 2015 at 13:11

    Your count within the chart get not supported by the Elliott Wave Oscillator. The highest level of the oscillator reflects the 3rd wave of a 3rd wave or the near end of a wave C as part of a correction one degree higher.

    http://www.bilderload.com/daten/usdjpy17082015dailyUW5W8.png

    http://www.bilderload.com/daten/usdjpy20082015promonthlyFXJ0P.png

    http://www.bilderload.com/daten/ssecomposite18082015weeklycrashansageEJK1X.png

    http://www.bilderload.com/daten/wti18072015shortsqueezeO4V0N.png

    Kind regards
    armandogui

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