Expect a good improvement in the Yen crossover soon. EURJPY support is around 135 while GBPJPY support is concentrated around 148 and 147.
Euro / British Pound
Except for an interruption below 0.8995, I support wave 3 / Elliott channel support / wave 4 is in the low position with a 38.2% change from the previous extreme of wave 4. Wave 5 (above 0.9416 ) is a favorable move towards a new high level. .9075 - Possible Support
Euro / Swiss franc
"There is technically nothing to say about the EURCHF and there will be none until the pair emerges from the triangle. The triangle battle between bulls and bears has continued since October. Triangles are usually continuity patterns, so there seems to be a wrong direction more likely to break.However, the prediction is more a practice of probability than confirmation, so proceed at your own risk.Each line of the triangle above or below will give a chance for a split.The calculation of the triangle shown above is bearish, but a bullish result is also possible.Wave A will be A and wave B will be a triangle .
Euro / Canadian dollar
Since January 2008, the upper part of the head and shoulders have been exposed. The left shoulder was intricate with 2 shoulders. H&S models tend to be symmetrical and last week I indicated that EURCAD would rise to 1.6330, forming another right shoulder. This scenario certainly remains. Today, the award is testing the 200-day SMA and short-term research warns of a pullback. 1.5600 / 60 is the support.
Australian Euro / dollar
We monitored the short-term price action over the past week and concluded that “an increase above 1.6310 will break a series of declines, at least in the short term. This will be the first sign of a downward trend. EURAUD has not yet reached this level, but further evidence of a trend reversal can be found in the weekly chart, the hammer (or major change in the histogram) was made last week and the weekly RSI is less than 30. To was published.
Euro / New Zealand dollar
EURNZD has emerged from a downtrend from the June 22 and August 14 lows (the line also crossed 3 days this month). The RSI failed to provide divergence, making the downtrend technically weak and at risk of reversal.
euro / Japanese yen
From 129 to 3 waves in EURJPY. Therefore, wave 4 is likely to go towards 134.75-136.10 (previous wave area 4). The 38.2% change of wave 3 reaches 135.10 (area low). I will look for the next signs around 134.75-135.10 to walk long on wave 5 134.75-135.10 which is likely to hold the EURJPY from 139.20 (new peak 2009).
British Pound / Japanese Yen
On Friday I wrote that "Five waves are clear from 139.68 below, so support can be expected from the previous 4th wave which is at 147-149.40. A major adjustment depends on how the price model is interpreted in circular area Seen as a triangle and by pushing the 5th wave, we would show that the 5-wave set of 139.68 is the correction wave ABC A. Taking the round area as waves A and B of the extended housing would mean that mounting with "5 waves is the end of Wave C and corrective mounting. Given the USDJPY configuration (along with EURJPY), the former is more likely. Weakness in the short term still helps to correct wave 5 advance." 148.10 then supports short-term weakness with support at 147.00.
Swiss franc / Japanese yen
CHFJPY is in the same position as EURJPY. Wave 4 of weak support at 88.80-89.70 ahead of a new high.
Canadian Dollar / Japanese Yen
Finally, a new high level (above 90.41) is expected, as the decline from there is seen as a strong correction (abcxabc). As mentioned last week, wave 4 can take place in a triangle or flat (most likely flat). A break below 85.91 will open the 85.30 level (100% continuation of wave A of 4). Just a drop below 84.23 indicates a higher level.
Australian Dollar / Japanese Yen
The daily RSI (14) has broken above 75 and the increase from 76.30 can be seen as a full 5-wave advance. Another warning for at least one withdrawal is the rejection of the RSI at the top. Initial support is at 82.80, then 82.05.
New Zealand Dollar / Japanese Yen
NZDJPY returned from the line drawn from the peaks of January, April and June. The daily RSI pulled an additional buy level. Now at least one point to test support at 66.40. A long-term recovery is signaled by breaks below the support line from the lower levels of February, July and October.
Jamie Sedles
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