HomeContributorsTechnical AnalysisElliott Wave View: NZD/JPY Sequence Forecasts The Rally

Elliott Wave View: NZD/JPY Sequence Forecasts The Rally

In this technical blog we’re going to take a quick look at the past Elliott Wave charts of NZD JPY published in members area of www.elliottwave-forecast.com. We’re going to take a look at the structures, count the swings and explain the trading setup.

The chart below is NZD JPY 4 hour update from 05.04.2017. As our members know, we were pointing out that NZDJPY is having incomplete bullish swings sequnces from the 75.62 low. Structure has been calling for more strength in 7th swing toward 78.40-78.94 ( taking profit area). Once the pair reaches proposed area in 7 swings, we expect to see 3 wave pull back to correct the cycle from the lows.

NZD JPY 1 Hour Chart 05.04.2017

The pair is bullish against the 76.112 low. Wave (x) pull back is expected to make another short term low ideally to reach 77.22-76.90 ( buying area). As we got incomplete bullish sequences in 4 hour chart, we advised our members to avoid selling the pair and keep buying dips in 3,7,11 swings. Invalidation level for the trade comes at 76.90 and we’re targeting 78.40-78.94 area.

NZD JPY 1 Hour Chart 05.09.2017

Eventually the pair has reached proposed target, giving us nice profits. As of right now, the pair has scope to extend little bit higher still toward 79.03-79.32 area before find sellers for for a 3 wave pull back at least.

Elliott Wave Forecast
Elliott Wave Forecasthttps://elliottwave-forecast.com
ElliottWave-Forecast has built its reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, Cycles, Proprietary Pivot System, we provide precise forecasts with up-to-date analysis for 52 instruments including Forex majors & crosses, Commodities and a number of Equity Indices from around the World. Our clients also have immediate access to our proprietary Actionable Trade Setups, Market Overview, 1 Hour, 4 Hour, Daily & Weekly Wave Counts. Weekend Webinar, Live Screen Sharing Sessions, Daily Technical Videos, Elliott Wave Setup videos, Educational Resources, and 24 Hour chat room where they are provided live updates and given answers to their questions.

Featured Analysis

Learn Forex Trading