Sunday, April 16, 2017

#USDJPY 4 HR Elliott Wave Update

#USDJPY 4 HR Elliott Wave Update

Trade Thoughts: Waiting for signs of a B or2 wave bottom to be in place and take the C or 3rd wave trade higher.

The USDJPY is currently test the bottom of the down trend channel.  I am not 100% sure on the wave count here but looking for a possible ending diagonal of some sort over the coming week or so.  

The RSI is currently diverging so some sort of bounce should be coming soon.

USDJPY 4 HR Elliott Wave Count

USDJPY 4 HR Elliott Wave Count
USDJPY 4 HR Elliott Wave Count