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USDJPY is Eyeing Higher Levels; While DAX Looking for a

USDJPY is displaying a strong rally away from 108.80 region where a corrective wave 2 of a higher degree was completed. The current impulsive activity may be the start of a change in trend that will push the price towards 113.0 and above. A decisive breach of 110.80 swing zone is an indication for a bullish reversal in play and as we can see on the updated chart, minor wave two can be in progress.

USDJPY, 4H

DAX is again turning lower, away from a new high of wave 5. So, we see a completed expanding diagonal in the mentioned wave, which means the current weakness and the sharp drop lower could be a suggestion that bulls are over and that bears are taking charge. As such we expect a minimum three wave reversal to follow.

German dax, 4H

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!