USDJPY - Forex Majors | Elliott Wave Patterns | November 2019
USD/JPY - Elliott Wave Technical Analysis
Structure & Degree: Intermediate Degree (A)(B)(C) (red) sequence
- Intermediate (A) (red): 5-swings sequence in a Leading Diagonal, Minors 12345 (red)
- Intermediate (B) (red) - Semi-Complex ABC Sequence:
Impulsive Minor A (blue)
False break-out in Minor B (blue)
Extended Ending Diagonal in Minor C (blue)
Current Position & Pattern:
- Ending Diagonal in Minute V (green), final wave of Minor C (blue)
Expected Swing:
- Intermediate (C) (red), Bearish Impulse
Technicals & Confirmations:
- Double Top Divergence on Intermediate (A) (red) starting point
- 261.8% or 300% Fibonacci Extensions of Minors A & B (blue)
- 100% Fibonacci Extensions of Minutes i & ii (green)
- 61.8% Fibonacci Extensions of Minutes iii & iv (green)
- Bearish Divergence at Resistance
- Bearish Harmonic Structure
Structure & Degree: Intermediate Degree (A)(B)(C) (red) sequence
- Intermediate (A) (red): 5-swings sequence in a Leading Diagonal, Minors 12345 (red)
- Intermediate (B) (red) - Semi-Complex ABC Sequence:
Impulsive Minor A (blue)
False break-out in Minor B (blue)
Extended Ending Diagonal in Minor C (blue)
Current Position & Pattern:
- Ending Diagonal in Minute V (green), final wave of Minor C (blue)
Expected Swing:
- Intermediate (C) (red), Bearish Impulse
Technicals & Confirmations:
- Double Top Divergence on Intermediate (A) (red) starting point
- 261.8% or 300% Fibonacci Extensions of Minors A & B (blue)
- 100% Fibonacci Extensions of Minutes i & ii (green)
- 61.8% Fibonacci Extensions of Minutes iii & iv (green)
- Bearish Divergence at Resistance
- Bearish Harmonic Structure
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.