Elliott Wave and Fibonacci Predictions

EUR/JPY

Hey traders, I just went short EUR/JPY after the breakout around 166,10 and now I see that price is already 20 pips lower, so if have any thoughts to trade this one then I suggest to wait on a pullback somewhere to the same level, as my entry was...Cause this trendline should be strong resistance for move lower. Below you can see my picture, where I came out with diagonal in wave a flat in more complex wave b and breakdown to wave of big black II... I am targeting on 165,00 level or lower if prices will be strong enough...

30min chart

USD/JPY

Ok, I will continue with this pair from yesterday. We have very nice waves from low of black wave iv... My target for this bulls are from 108,35 - 108,50, I see a lot of Fibo resistances in this zone, so I defiantly would not go long here... .So, if you are with the bulls, then I suggest you to trail your stops in some very nice profit zone... I am expecting wave III to turn prices in to the red wave IV, so maybe break down to 106,70 level... But we are a long way from this point, more then 200 pips... .Today we are expecting Consumer Price Index (CPI) report for the US, so the bad news could be a good opportunity to make some money on the way down... I will also paid attention on this trendline that I labeled on the picture...

Traders, see you on Monday. Grega.

15min chart

Gregor Horvat
chief executive officer
forex analyst
Capital Forex Group LLC

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