USDJPY and FTSE100 Intraday: Elliott Wave Analysis
10 year US notes came down from 127'00 to 125'30, so yields are up that which is supportive for USDJPY. Pair rallied nearly 100 pips yesterday that looks like a wave (iii) now from 102.10. As such, we are tracking an impulsive rally from August 08 that should reach even higher levels, but after a corrective wave (iv). We expect that one very soon, with a retracement back to 103.20/40 before uptrend may extend to a new high with wave (v).
USDJPY 1h Elliott Wave Analysis
On some global major indices I still expect a deeper retracement as rally from August lows unfolded in five waves. On FTSE100 below we have already send some weakness from latest high, but that trendline still need to give way to confirm a deeper retracement, back to open gap before we go higher. We see limited upside on stocks, sooner or later corrections will come that are part of a big uptrend.
FTSE100 1h Elliott Wave Analysis
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