-
Japanese Yen Rally On The Way? Elliott Wave Says Yes
When we wrote in April about the CurrencyShares Japanese Yen Trust ETF (NYSEARCA: FXY), we suggested that the preceding rally was exhausted and that nearby resistance should hold. That forecast worked very well, and the correct trade from that point was downward. However, the lack of a forceful follow-through has led us to move a slightly different Elliot wave count to the fore. You can see the big-picture downward impulsive structure for the Yen and FXY in the monthly chart we tweeted recently. The low in 2015 was probably the end of large Elliott wave [iii] in an impulse that began in 2011. The question then has ... (full story)
- Comments
- Subscribe
- Comment #1
- Quote
- Aug 16, 2018 9:29pm Aug 16, 2018 9:29pm
- Pipmasterfx
- | Joined May 2018 | Status: Member | 197 Comments
- Comment #2
- Quote
- Edited 2:39am Aug 17, 2018 2:28am | Edited 2:39am
- conglomerate
- | Commercial Member | Joined Jun 2018 | 528 Comments
- Comment #3
- Quote
- Aug 17, 2018 3:06am Aug 17, 2018 3:06am
- Pipmasterfx
- | Joined May 2018 | Status: Member | 197 Comments
- Comment #4
- Quote
- Aug 17, 2018 6:50am Aug 17, 2018 6:50am
- conglomerate
- | Commercial Member | Joined Jun 2018 | 528 Comments