Home Usd/Jpy Triangle, bearish breakout to come!
Opinions

Usd/Jpy Triangle, bearish breakout to come!

Three-wave structures are shown on a daily chart, with the trapped price action between 80.30 support and 84.00/40 resistance region for some time now.

We know that three-wave formations are corrective waves, and as such, the whole price structure since October 2010 must be a corrective pattern, that may finish soon.

USD JPY Elliot Wave March 7

Wave E, final leg of a pattern must complete somewhere below   83.96 region.

New lows should be seen in days/weeks ahead.

Guest post by Gregor Horvat.

If you need more Elliott Wave forecast, especially on the intra-day basis, please visit our website and check Video Tour of Our Products here or follow us on twitter.

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!