Today's Support and Resistance Levels:
R3: 138.09
R2: 137.65
R1: 137.10
Current Spot: 136.72
S1: 136.18
S2: 135.81
S3: 135.33
Technical Summary:
With the break below the base channel support line we have seen the expected acceleration lower. Blue wave (iii) has extended slightly further than first expected and has reached a low of 136.22 I'm now looking for blue wave (iv) towards 137.10 and maybe even higher towards 137.65 before blue wave (v) lower towards at least 135.75 and maybe even lower towards 134.52. Once blue wave (v) is in place that will also mark the bottom of blue wave iii.
Today's Support and Resistance Levels:
R3: 1.6723
R2: 1.6702
R1: 1.6683
Current Spot: 1.6638
S1: 1.6600
S2: 1.6577
S3: 1.6512
Technical Summary:
After reviewing my count I have moved wave iii higher to 1.6787. The reason is that sub-wave four of iii was a running triangle and then we saw wave five of iii higher to 1.6787, which was just below the ideal target of 1.6792. We are currently in wave iv lower towards 1.6577 from where I expect wave v higher towards 1.6900. That said, I have mentioned the alternate count the last couple of days. This scenario shows that a triangle is developing, but we should still see a move higher towards 1.6900 after the ongoing correction is finished.
Hi ews, u pointed that eurjpy now toward iv 137.10 - 137.65. Due to both pair usdjpy and eurjpy work very closely that means usdjpy now could heading 102 before drop back 100 ending iii.
ReplyDeleteHi Juan,
DeleteI think that 102 in USD/JPY is a bit to optimistic, but a correction closer to 101.60 - 101.70 before the next decline lower will be seen.
Kind regards
EWS