GBP USD 5 Min:Price had been in a gradual large down channel overnight and fell from London open in a tighter channel which turned into a wedge in 4 waves: Low1 High1 Low 2 High2 Low2 High3 Low3 High 3 Low 4. The Low 4 just missed a wedge line and also broke through a micro double…See More
Unexpected monetary expansion from Bank of Japan sent global stocks higher. Treasuries are trading down, metals are following, while USD is looking strong especially against JPY. USDJPY move to a new high of the year, now moving within wave (iii) that can reach levels around 112 where we see 261.8% Fibonacci extension target. Any downward pullbacks in the middle of this bullish trend will be just temporary corrections with limited downside. USDJPY 1h Elliott Wave Analysis…See More
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