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Usd/jpy Weekly Commentary For The Week Ending 18/18/2013

Discussion in 'Technical Analysis' started by primetrader, Aug 18, 2013.

  1. primetrader

    primetrader New Member

    Jul 21, 2013
    Likes Received:
    Trend Analysis
    USDJPY prices close
    HIGHER than the 200 Moving Average
    HIGHER than the 50 Moving Average
    LOWER than the 20 Moving Average
    The current trend for US Dollar / Japanese Yen is Bullish. US Dollar / Japanese Yen broke below the up trendline at 96.21, one week ago. This is a bearish sign. This up trendline, currently with an ending point at 97.56, now provide upside resistance. Prices have declined 1.32% since the breakout.
    Elliot Wave Analysis
    Elliott Waves High Volatility has detected an Isolated Low at 95.80 one bar ago ; this is usually a bullish sign
    Elliott Waves High Volatility has detected a Gann Swing or Pullback that is usually a bearish pattern!
    The present wave patterns are:
    fast amplitude (8%): bullish wave 5
    moderate amplitude (13%): bullish wave 1
    Technical Outlook
    Short Term:Neutral
    Intermediate Term:Bearish
    Long Term:Bullish


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