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USD/JPY Now Underway To 98.00 (Elliott Wave Analysis)

USDJPY is trying to stay with a larger uptrend now after a recent reversal down to the 95.50 support line, which appears to be wave iv).USDJPY Elliott Wave Analysis March 14 2013

Wave iv) found support around the trend-line connected from 91.00 and also near 38.2% Fibonacci support zone which was ideal start point for wave v). This wave v) could lift the pair up to 98.00 level in the near-term.

If you want more detailed technical analysis for USDJPY, as well as EURUSD and USDCAD , please see the video below.

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Gregor Horvat

Gregor Horvat

Grega Horvat Grega is based in Slovenia and has been involved in markets since 2003. He is the owner of Ew-Forecast, but before that he was working for Capital Forex Group and TheLFB.com. His feature articles have been published on FXstreet.com, Thestreet.com, Action forex, Forex TV, Istockanalyst, ForexFactory, Fxtraders.eu, Insidefutures.com, etc. He recently won the award on FXStreet.com for Best Forex Analysis in 2016. At Ew-forecast he helps clients and educates them about the Elliott wave principle and how to label and track unfolding patterns in real time. His approach to the markets is mainly technical. He uses a lot of different methods when analyzing the markets such as candlestick patterns, MA, technical indicators etc. His specialty, however, is Elliott Wave Theory which could be very helpful especially if you know how to use it in combination with other tools/indicators. EW-Forecast To be involved in the market effectively, you need the right guidance and resources, and our team can help you to achieve that. Our team is providing advanced informations about Elliott Wave theory in real time. The Elliott Wave Principle gives you a method for identifying the behavior of the markets and at what points the market is most likely to turn. We help new traders who are interested in Elliott Wave theory to understand it correctly. We are doing our best to explain our views as simple as possible with educational goal, because knowledge itself is power!