Bullish US Notes Equals To Bearish USDJPY and Vice Versa

By: Gregor Horvat | Fri, Aug 1, 2014
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10-year US notes were down recently, and we highlighted this pullback after limited gains at upper trendline of a triangle. Well, we are tracking a publishing triangle here, placed in wave B which can be near completion at current lower side of the pattern. But as long as price trades in the mid-levels of the past 12 months our count remains unconfirmed. IN other words, I want to see 125.71 broken to confirm a rally into wave C. On the downside 123.77 is level on the radar screen; break below it can be a bearish signal. A breakout on US notes will tell us a lot about the USDJPY; bullish notes=bearish USDJPY, bearish notes=bullish USDJPY.

10-year US notes Daily Elliott Wave Analysis

10-year US notes Daily 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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