Since the beginning of June, the USD/JPY has been trading in a horizontal channel with a resistance at 108.49 and a support level at 104. After breaking through the resistance, the market made a semic...

GBPJPY: The drop from 250 is in 3 waves to this point (A-B-C). However, the advance from 192.60 is choppy and could therefore be a 4th wave that will give way to a 5th wave that ends below 192.60. As ...

My favorite trading recommendation for Wednesday is to buy USD/JPY at the market for a 200 pips in profit potential with a stop in a daily close below 108. In a special report I did yesterday, I argue...

The EUR/AUD performed in the last month from 1.62 to 1.70. Now we have the first candles in the daily chart with a decrease. Since the beginning of 2006 it is the sixth time that the market recovered ...

We maintain that a triangle is complete at 158.60. Is the triangle perfect? No, but real market patterns rarely are perfect. The rally from 158.60 (end of triangle) is in 5 waves but is small relative...

Traders looking to protect their existing short NZDJPY position or enter short at a favorable price may consider a hedge long NZDJPY above 79.02 with a target at 166.84. Once the profit target is hit,...

Under the preferred count, a triangle is complete at 158.60 (view a daily to see waves A and B). The rally that followed is in 5 waves but is small relative to the triangle, making it likely that the ...

Over the past few trading days, the Japanese Yen crosses have done very well thanks to the rally in the US stock market. Seven out of the nine DailyFX Analysts believe that the yen crosses will contin...

Under the preferred count, a triangle is complete at 158.60 (view a daily to see waves A and B). The rally that followed is in 5 waves but is small relative to the triangle, making it likely that the ...

I like EUR/JPY to the short side given the break of critical trendline support, which connected the March, May, and June lows. Furthermore, we saw the DJIA finally break below the psychologically impo...

We had been looking for "the EURJPY to exceed 169.44 near term in order to complete a small 5th wave." The pair exceeded this level early this week and at least a correction is underway now. There are...

The Australian dollar hit a 25 year high, making it the best performing currency. Most DailyFX analysts are still bullish AUD. Given the divergence in growth, the AUD will probably perform best agains...

GBPJPY: As long as 219.30 is intact, we are treating the advance from 192.60 as a corrective 4th wave. Within the advance, the rally from 199.79 would equal the 192.60-208.94 rally at 216.13. A rally ...

The EURJPY should continue higher over the next several weeks and maybe longer. There are 2 bullish counts. One treats the decline from the 168.94 top as a completed A-B-C correction (truncated wave C...

The NZDJPY remains stuck in a choppy consolidation and probably will for some time. That is not to say that there will not be rewarding opportunities though. In fact, there are 2 counts that suggest t...

We wrote last week that “Ii a triangle is unfolding, then the EURJPY must remain below 167.73 (top of wave B).” That has not happened as the pair actually poked through that level today. This leaves u...

If a triangle is unfolding, then the EURJPY must remain below 167.73 (top of wave B). A wave E decline needs to begin before 167.73. Watch the intraday charts closely for signs of a reversal. E waves ...

GBPJPY: The advance from 192.60 is wave 4 within what will probably be a 5 wave drop from 251.10. The minimum bearish objective is 1 pip below 192.60 (unless wave 5 ends as a truncation). A bearish bi...

In GBP/AUD we can monitor a strong bearish market since beginning of 2008. Expect for a small recovery in March the market went down the whole time. The market lost about 225 pips this year. Within th...

The choppy decline since the October high at 91.42 may be a series of 1st and 2nd waves. Under this count, the NZDJPY needs to remain below 88.11 for a C wave decline that will eventually come under 7...