Japanese Yen is showing a very weak picture today across the board, losing a lot of value against the other major currencies but the most against the British Pound (more than 1%). The main driver for lower Japanese Yen is higher stock market and raising yields. Guest post by Gregor Horvat The best positive correlated pair with bond yields is Usd/Jpy, which found the support today at 82.30 from where an impulsive reaction appeared and pushed the pair above the 83.78 wave (A) region, which definitely confirms that larger trend is up! We should see at least three-wave bounce on the upside from the 82.32 region, or potentially this could be start of a new bullish cycle through 84.40 and much higher later on. If we are on the right track here, then five sub-wave structure is a red wave 1), with wave 2) pull-back to come in the very near-term. As such, any three wave of a retrace within a wave 2) should offer a Long opportunity, while the market trades above 82.30; new established support. If you need more Elliott Wave forecasts, please visit us at www.ew-forecast.com, and check out our services here. Want to see what other traders are doing in real accounts? Check out Currensee. It’s free.. 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 Guest PostOpinions share Read Next Forex Daily Outlook – December 8 2010 Anat Dror 12 years Japanese Yen is showing a very weak picture today across the board, losing a lot of value against the other major currencies but the most against the British Pound (more than 1%). The main driver for lower Japanese Yen is higher stock market and raising yields. Guest post by Gregor Horvat The best positive correlated pair with bond yields is Usd/Jpy, which found the support today at 82.30 from where an impulsive reaction appeared and pushed the pair above the 83.78 wave (A) region, which definitely confirms that larger trend is up! We should see at least three-wave bounce… Regulated 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.
