USDJPY is at the highs, but now in the fifth wave so the rally could be limited on the upside. We see resistance coming in around 120.85, so it shall be interesting to see how the NFP figures will impact the pair. The trend is still up, but keep an eye on that 119.31 support line; a daily close beneath that one could put a top in place. USDJPY 1h Elliott Wave Analysis One clear pattern that we see ahead of US Jobs data is AUDJPY. Note that the market is still very slow and overlapping since the Nov 26th low, so the current move must be a correction. As such, the next strong reaction should be to the downside as a first leg from 102.81 unfolded clearly in an impulsive manner. The only question is which pattern will take place from Nov 26th!? Well, we are hoping for a double zigzag but a failure push up to 101.30/101-70 resistance. Ideally we will see a sell-off from those levels. Our bearish view will be invalidated only if we go above 102.81. AUDJPY 1h Elliott Wave Analysis 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! View All Post By Gregor Horvat Forex News Today: Daily Trading News share Read Next Canadian jobs: down 10.7K, unemployment rate 6.6% Yohay Elam 7 years USDJPY is at the highs, but now in the fifth wave so the rally could be limited on the upside. We see resistance coming in around 120.85, so it shall be interesting to see how the NFP figures will impact the pair. The trend is still up, but keep an eye on that 119.31 support line; a daily close beneath that one could put a top in place. USDJPY 1h Elliott Wave Analysis One clear pattern that we see ahead of US Jobs data is AUDJPY. Note that the market is still very slow and overlapping since the Nov 26th… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
