Elliott Wave Analysis On 10 Year US Notes And USDJPY

By: Gregor Horvat | Thu, Oct 6, 2016
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10 Year US Notes

10 year US notes just fell to a new low, beneath September 13th with wave 5 shown on intraday chart which means that corrective bounce can be around the corner. Also, its less than 24 hours till NFP so market may slow down for corrections. That said, be aware of a three wave retracement, ideally back to 131.12 in the near-term.

10 Year US Notes, 1H

10-Year US Notes 1-Hour Chart


USDJPY

If 10 year is going to accomplish its bearish impulse, then USDJPY will also turn for a minimum three wave decline. We see pair in 5th wave also, while RSI shows strong divergence so we need to be aware of a turn. However, pair is in a strong run this week, so let's not be to quick and rather wait on broken trendline support before we may finally call an A-B-C correction. if pair will stay supported by a lower channel line then next level to watch is 104.31 from start of September.

USDJPY, 1H

USD/JPY 1-Hour Chart

 


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Gregor Horvat

Author: Gregor Horvat

Gregor Horvat
www.ew-forecast.com

Gregor Horvat

Grega is based in Slovenia and has been involved in markets since 2003. He is the owner of www.ew-forecast.com, but before that he was working for Capital Forex Group and TheLFB.com. His feature articles have been published on: SafeHaven.com, 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 www.ew-forecast.com he helps clients and educate them about the Elliott wave prinicple 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.

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