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USDJPY: Forecasting the Rally Based on Elliott Wave Structure


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USDJPY: Forecasting the Rally Based on Elliott Wave Structure

USDJPY extended the rally this week and exceeded the peak seen on 20th May 2020. In this article, we would look at the forecast from start of the week and how we called it higher. We will show some charts presented to clients this week and explain the reason for calling the extension higher and also talk about what we are expecting next in the pair.

USDJPY 1 June 1 Hour London Elliott Wave Analysis

Chart below shows a double correction in wave 2 ended at 10.704 which was followed by a 5 waves rally which we labelled as wave ((i)), first wave of wave 3 higher. Pair experienced a pull back heading into the London update on Monday, we expected the pull back to complete above 107.04 and pair to resume higher in wave ((iii)) of 3.

USDJPY 1 June 1 Hour Elliott Wave Analysis

USDJPY 2 June 1 Hour London Elliott Wave Analysis

USDJPY 2 June 1 Hour Elliott Wave Analysis

USDJPY 2 June 1 Hour Midday Elliott Wave Analysis

USDJPY 2 June 1 Hour Midday Elliott Wave Analysis

USDJPY 3 June 1 Hour London Elliott Wave Analysis

USDJPY 3 June 1 Hour London Elliott Wave Analysis



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Elliottwave-Forecast.com  (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to thousands of clients.

ElliottWave-Forecast has built a 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 42 instruments including FX majors, Gold, Silver, Copper, Oil, TNX and major Equity Indices. 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, Educational Resources, and 24 Hour chat room where they are provided live updates and given answers to their questions.

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