You are here: Home > articles > Forex > Overview of USD / JPY for the week of June 12 on simplified wave analysis
Overview of USD / JPY for the week of June 12 on simplified wave analysis
June 12, 2018 10:23 pmVideo
Latest News
- Analysis of EUR/USD pair on May 31st. EU inflation supports the euro May 31, 2024
- Analysis of GBP/USD pair on May 31st. The PCE index also works against the dollar May 31, 2024
- USD/JPY: Simple trading tips for novice traders on May 31st (US session) May 31, 2024
- GBP/USD: Simple trading tips for novice traders on May 31st (US session) May 31, 2024
- Technical Analysis – US 100 stock index might lose more in short-term May 31, 2024
- EUR/USD: Simple trading tips for novice traders on May 31st (US session) May 31, 2024
- GBP/USD: trading plan for the US session on May 31st (analysis of morning deals). The pound was bought in the area of 1.2706 May 31, 2024
- EUR/USD: trading plan for the US session on May 31st (analysis of morning deals). The euro continued to grow May 31, 2024
- EUR/USD. May 31st. The economic data stopped the bears again May 31, 2024
- GBP/USD. May 31st. Bears remain weak and the pound rises alongside euro May 31, 2024
- Weekly Forex Outlook: 31/05/2024 – ECB cut might get eclipsed by BoC surprise and NFP May 31, 2024
- Cryptos consolidate as spot Ether ETF excitement fades – Crypto News May 31, 2024
- Technical Analysis – USDJPY may retest 157.70 May 31, 2024
- June forecast: Dollar index poised for growth May 31, 2024
- Week Ahead – ECB rate cut might get eclipsed by BoC surprise and NFP report May 31, 2024
- Forex forecast 05/31/2024: EUR/USD, GBP/USD, USD/JPY and Bitcoin from Sebastian Seliga May 31, 2024
- EUR/USD and GBP/USD: Technical analysis on May 31 May 31, 2024
- Market Comment – US and Eurozone inflation data in focus May 31, 2024
- Technical Analysis – EURGBP stuck around the crucial 0.8500 floor May 31, 2024
- Technical Analysis – USDCAD meets uptrend line again and again May 31, 2024
Wave picture of the chart H4:
The direction of the trend is set by the bullish wave of February 16. The wave has the wrong kind of structure. The preliminary target zone lies in 4 figures above the current rate.
The wave pattern of the graph H1:
The descending section of May 21 forms the final part (C) of the hidden correction. After its completion, the price rise will continue.
The wave pattern of the M15 chart:
The upward wave of May 29 does not have a reversal potential. The first part (A) is nearing completion, followed by a decrease in correction (B).
Recommended trading strategy:
The sales potential is limited. They can be used in intraday and interday trade. For larger scales of trade before purchases, it is necessary to wait for the completion of the entire bearish wave.
Resistance zones:
– 110.90 / 111.40
Support zones:
– 109.30 / 108.80
– 107.80 / 107.30
Explanations to the figures: In a simplified wave analysis, waves consisting of 3 parts (A-B-C) are used. In the analysis, 3 main TFs participate, on each one the last incomplete wave is analyzed. Zones show the calculated areas with the greatest probability of a turn.
Arrows indicate the wave counting according to the technique used by the author. The solid background shows the generated structure, the dotted – the expected movements.
Attention: The wave algorithm does not take into account the duration of the tool movements in time. To conduct a trade transaction, you need confirmation signals from your trading systems!
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: