Browsing Tag

USDJPY

The Week Ahead: Not So Fast

GBPJPY Bounces Off 4-Week Low The pound sterling has begun a tentative recovery after giving back all its gains in June. However, its advance might not be a smooth ride as ongoing Brexit talks may stir up volatility. The EU’s…

USDJPY Correction A Double Zig-Zag?

We talked about the bullish double zigzag pattern forming on USDJPY a couple of weeks ago. It consists of primary sub-waves Ⓦ-Ⓧ-Ⓨ. The primary wave Ⓧ is on its way to completion. Its formation resembles a bearish double zigzag…

The Week Ahead: Long March

USDJPY Softens on Grim Outlook The Japanese yen continues to show resilience against the US dollar after hitting April’s low. The Federal Reserve’s dovish outlook has injected some discomfort into investor sentiment. Meanwhile,…

USDJPY Erases Last Week’s Gains

USDJPY is currently trading within the long-term descending channel starting Jan '17. Despite trading on the upper regression zone, the current structure suggests that the pair could decline towards the regression line below 106 once…

USDJPY En Route to Last Triangle Leg

The cycle-degree USDJPY structure hints to a triangle pattern consisting of waves a-b-c-d-e. Currently, in the final wave e, we expect to see a double zigzag Ⓦ-Ⓧ-Ⓨ. The primary structure suggests that waves Ⓦ and Ⓧ are complete,…

The Week Ahead: Unity Makes Strength

EURCHF Surges Higher on Stimulus Hopes The euro climbed to an 11-week high against the Swiss franc after the European Commission proposed a 750 billion euro recovery plan. Optimism grows as the EU’s 27 nations are expected to settle…