Intraday Elliott Wave Swings For USDJPY and AUDUSD

By: Gregor Horvat | Wed, Jun 25, 2014
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USDJPY has also been under pressure yesterday because of lower stocks. We have seen a reversal down from around 102.15 that now looks like a wave (e) of a big triangle. Firstly we thought it was wave (ii) but because of a ranged market since June 12 we believe that triangle is more appropriate labeling. We should keep an eye on 101.79 break that may put weakness in play for 101.58 and even lower after that.

USDJPY 1h Elliott Wave Analysis

USDJPY 1-Hour Elliott Wave Analysis Chart

Yesterday we presented a new wave count for AUDUSD that can be a flat formation with wave c) now heading down to 0.9300/0.9325. If that's a flat then we need five waves down in c), for now that's not the case yet, so be aware of more weakness in the next 24 hours.

AUDUSD 1h Elliott Wave Analysis

AUDUSD 1-Hour Elliott Wave Analysis Chart

 


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Gregor Horvat

Author: Gregor Horvat

Gregor Horvat
www.ew-forecast.com

Gregor Horvat

Gregor Horvat, based in Slovenia, has been in the forex markets since 2003. He is a technical analyst and individual trader who has worked for Capital Forex Group and TheLFB.com. He also is founder of forex services on www.ew-forecast.com. EW-Forecast.com provides technical analysis of the financial markets, highlighting behavioral patterns based on the Elliott Wave Principle (EWP). Website: http://www.ew-forecast.com/

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