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DailyFX Home /
Forex Technical Analysis /
Daily Technical Analysis
Elliott Wave Bias Table
| Symbol | Bias | Time Frame | Invalidation | Objective | Chart Links |
|---|---|---|---|---|---|
| EUR/USD | flat | View Chart | |||
| USD/JPY | flat | View Chart | |||
| GBP/USD | flat | View Chart | |||
| USDOLLAR | flat | View Chart | |||
| USD/CHF | pending | View Chart | |||
| AUD/USD | pending | View Chart | |||
| USD/CAD | flat | View Chart | |||
| NZD/USD | flat | View Chart | |||
| OIL | flat | View Chart | |||
| GOLD | flat | View Chart |
USD/JPY Takes Out Last 8 Days; Beware the Chop That Follows
Daily
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
Are you new to FX or curious about your trading IQ?
FOREXAnalysis: Volume (CME) was the largest today since 8/16/07 (which is a record). Does this tell us that the decline was a 1 day exhaustion (a la 2/25)? After sharp down days off of a high, it’s not uncommon for the USDJPY to ‘chop’ around for a few days before making its next move (up or down). With that in mind, 102.30 is a level to watch for resistance and 101.30 for support. More information is needed (price data) in order to pass judgment regarding the next larger move
FOREXTrading Strategy: Flat
LEVELS: 99.94 100.82 101.30 102.30 103.15 103.73
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