Thu, Jan 21, 2021 @ 17:23 GMT
Home Contributors Technical Analysis Nikke100 and USD/JPY - Are The Stock Market and xxx/JPY Ready To...

Nikke100 and USD/JPY – Are The Stock Market and xxx/JPY Ready To Rumble?

Hello traders and welcome back to the US session!

USDJPY made a nice bullish daily candlestick and looking on the intraday, we can see a nice five-wave rally, so seems like more upside can be seen after that small three-wave setback, especially if we consider a bullish looking Nikkei since we know they are positively correlated.

Don’t forget, even 10Y US Yield and 10Y JPY Yield are recovering which also suggest higher prices for Nikkei and USDJPY.

NIKKEI vs. USDJPY, 1h

NIKKEI, 1h

USDJPY, 1h

Elliott Wave Financial Servicehttp://www.ew-forecast.com/
Trading forex, futures or futures options carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could lose some or all of your initial investment; therefore you should not invest money that you cannot afford to lose. Our website and the information provided here should not be relied upon as a substitute for extensive independent research before making your investment decisions.

Featured Analysis

Learn Forex Trading