USD/JPY - Please see my post from August 8 here first:
http://theelliottwavesufer.blogspot.dk/2012/08/elliott-wave-analysis-of-eurusd-usdjpy_8.htmlOn August 8.th I said, that wave i of 3 might be a leading diagonal and the price-action of the last couple of days seems to confirm this view. It's still early in wave iii, but if my count is correct we will see wave iii move much higher. I suspect we could see 79.92 tested for wave iii.
The rally of the 78.09 low tested on June 1 has been anything but strait forward, but this is typical wave 1 and 2 behavior.
As long as support at 78.16 protects the downside I will keep the bullish count and look for a break above 79.43 that would confirm, that the decline from 80.63 only was a correction.
Hello Ews,
ReplyDeleteThanks for update on usd/jpy, the pair which dusted in illusion from a long time, the 2ed wave retracement above is over 61.8...
the main thing would be 3rd of 3rd which will fly this pair and that event is matching with with rest pairs attached with USD.
On Gbp/Usd I am seeing a tri-angle forming as second wave from previous major tri-angle as wave B..
is it possibility? wave 2 are rare as tri-angle, could it be wave ''b'' instead wave 2?
However, the fall is near !
Its great following you,
Ray
Hi Ray,
ReplyDeleteI agree with you on both views. If we indeed is in the third of the third wave in USD/JPY it will and should fly.
On Cable I also seeing a possible triangle developing, but it might develop into an ending diagonal, which will call for one more new high closer to the 1.5805 target and perhaps even slightly above like 1.5815 if the ending diagonal count is the correct one.
Thank you!
Kind regards
EWS