Early January USD/JPY Weekly Forex Forecast

January FOREX Forecast on USD/JPY

First numbers of January. USD/JPY Weekly Forex forecast. The ratio of the dollar against the Japanese yen in recent years has changed a lot in the direction of the dollar. The economic situation in Japan can be read in the calendar of events of the Forex Market News. After September 13, the economic situation in Japan was shown in the chart. The formation of a new trend going on at a brisk pace. The currency pair EUR/USD increased by 360 pips up to 80.70 point. And then, the currency pair went into a small correction to 79.06 and then the pair went into a small correction, and then it increased again by 760 pips to point 86.65. Ultimately, USD/JPY increased by almost one thousand pips. On the chart we will look formation of the fourth wave by Elliott. By Elliott Wave theory the fourth wave is usually a horizontal channel, or another flat. The fourth wave can down to maximum of first wave down to point 80.70. And after that moving maybe growing up higher than USD/JPY - 89.30. We recommend opening the transaction after the fourth wave on timeframe Daily. It is possible that when the fourth wave is below the first wave - then you have to follow the formation of a new downwards trend.

Trading and forecasts in the FOREX Explorer blog this is a personal informational educational blog all about the foreign exchange market. Our previous forecasts for the currency pair USD / JPY

January USD/JPY Weekly FOREX Forecast. Chart USD/JPY in timeframe H4. Blue rectangles are the future of a possible movement of the currency pair USD / JPY. By Elliott theory 4-th wave will be as a horizontal channel or flat.

In our opinion, after such a long uptrend, we would expect a correction in the form of the fourth wave. The worst idea of the fourth wave - is expanding triangle by Cornelius Luca. For Example Technique FOREX Forecasts

FOREX Chart of currency pair USD/JPY in timeframe H1 in January