Determine likely price zones following wave patterns based on extremes in trader’s psychology with Elliot wave analysis https://admiralmarkets.com.au/analytics/wave-analysis 2019-02-26T15:20:11+11:00 2019-02-26T15:20:11+11:00 <p>See our latest analysis in our new Market Analysis series. Every Monday, Wednesday and Friday professional trader and market analyst Jens Klatt will comment on the most active financial instruments, using technical analysis, fundamental analysis and the economic calendar to highlight potential trading opportunities for investors.</p><p>Read it now in the Admiral Markets <a href="https://admiralmarkets.com/analytics/traders-blog">Trader's Blog</a>.</p> 2018-12-03T13:30:00+00:00 https://admiralmarkets.com.au/analytics/wave-analysis/new-market-analysis-1 https://admiralmarkets.com.au/analytics/wave-analysis/new-market-analysis-1 Wave Analysis <p><a href="https://admiralmarkets.com/start-trading/contract-specifications/instrument/usdjpy"></a><a href="https://admiralmarkets.com/start-trading/contract-specifications/instrument/usdjpy">USDJPY</a></p><p>4 hour</p><p><a href="https://admiralmarkets.com.au/analytics/wave-analysis/usd-jpy-bullish-retracement-bounces-at-fibonacci-resistance"><img style="width:auto;" class="img-responsive" src="https://fxmedia.s3.amazonaws.com/articles/17-10-2018uj4.png" alt="USDJPY Hourly Chart - Wave Analysis" rel="" style=""></a></p><p>Source: Admiral Markets <a href="https://admiralmarkets.com/trading-platforms/metatrader-5">MT5</a> with <a href="https://admiralmarkets.com/trading-platforms/metatrader-5">MT5SE Add-on</a> USD/JPY motive wave – Accessed 17 October 2018 at 5:00 AM GMT</p><p>The USD/JPY <a href="https://admiralmarkets.com/education/articles/forex-basics/understanding-the-major-currency-pairs-in-forex-trading">currency pair</a> seems to be building a bullish retracement within the downtrend. As long as the price stays below the 382-50% <a href="https://admiralmarkets.com/analytics/traders-blog/3-effective-ways-of-using-fibonacci-tools">Fibonacci</a> resistance zone, the price will probably be in a wave 4 (purple) correction. The bearish <a href="https://admiralmarkets.com/analytics/traders-blog/top-3-ways-to-trade-breakouts-in-2018">breakout</a> is probably part of an ABC zigzag pattern (pink) within wave E (purple).</p><p>1 hour</p><p><a href="https://admiralmarkets.com.au/analytics/wave-analysis/usd-jpy-bullish-retracement-bounces-at-fibonacci-resistance"><img style="width:auto;" class="img-responsive" src="https://fxmedia.s3.amazonaws.com/articles/17-10-2018uj1.png" alt="USDJPY Hourly Chart - Wave Analysis" rel="" style=""></a></p><p>Source: Admiral Markets MT5 with MT5SE Add-on USD/JPY motive wave – Accessed 17 October 2018 at 5:00 AM GMT</p><p>The USD/JPY currency pair needs to break below the support trend line (blue) with a clear bearish <a href="https://admiralmarkets.com/education/articles/forex-basics/everything-you-need-to-know-about-candlestick-trading">candlestick pattern</a>, otherwise the wave 4 could go sideways.</p><p>Daily</p><p><a href="https://admiralmarkets.com.au/analytics/wave-analysis/usd-jpy-bullish-retracement-bounces-at-fibonacci-resistance"><img style="width:auto;" class="img-responsive" src="https://fxmedia.s3.amazonaws.com/articles/17-10-2018ujd.png" alt="USDJPY Daily Chart - Wave Analysis" rel="" style=""></a></p><p>Source: Admiral Markets MT5 with MT5SE Add-on USD/JPY motive wave – Accessed 17 October 2018 at 5:00 AM GMT</p><p>The USD/JPY currency pair is testing a support trend line (blue) which offers a potential breakout or bounce.</p>This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments. Please note that such trading analysis is not a reliable indicator for any current or future performance, as circumstances may change over time. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the <a href="https://admiralmarkets.com/risk-disclosure">risks</a>. 2018-10-17T10:15:00+00:00 https://admiralmarkets.com.au/analytics/wave-analysis/usd-jpy-bullish-retracement-bounces-at-fibonacci-resistance https://admiralmarkets.com.au/analytics/wave-analysis/usd-jpy-bullish-retracement-bounces-at-fibonacci-resistance Wave Analysis <p><a href="https://admiralmarkets.com/start-trading/contract-specifications/instrument/usdjpy"></a><a href="https://admiralmarkets.com/start-trading/contract-specifications/instrument/usdjpy">USD/JPY</a></p><p>4 hour</p><p><a href="https://admiralmarkets.com.au/analytics/wave-analysis/usd-jpy-builds-bearish-abc-pattern-in-wave-e-triangle"><img style="width:auto;" class="img-responsive" src="https://fxmedia.s3.amazonaws.com/articles/16-10-2018uj4.png" alt="USDJPY 4 hour chart - Wave Analysis" rel="" style=""></a></p><p>Source: Admiral Markets <a href="https://admiralmarkets.com/trading-platforms/metatrader-5">MT5</a> with <a href="https://admiralmarkets.com/trading-platforms/metatrader-5">MT5SE Add-on</a> USD/JPY motive wave – Accessed 16 October 2018 at 4:00 AM GMT</p><p>The USD/JPY <a href="https://admiralmarkets.com/education/articles/forex-basics/understanding-the-major-currency-pairs-in-forex-trading">currency pair</a> made a new low yesterday, which is probably part of a bearish wave 5 (purple) of a larger wave A (pink). The main target of the 5th wave (purple) is the -27.2% <a href="https://admiralmarkets.com/analytics/traders-blog/3-effective-ways-of-using-fibonacci-tools">Fibonacci</a> level at 111.21. The bearish <a href="https://admiralmarkets.com/education/articles/forex-strategy/what-is-price-action-in-forex-trading" target="_blank">price action</a> is probably part of an ABC zigzag pattern (pink) within wave E (purple).</p><p>1 hour</p><p><a href="https://admiralmarkets.com.au/analytics/wave-analysis/usd-jpy-builds-bearish-abc-pattern-in-wave-e-triangle"><img style="width:auto;" class="img-responsive" src="https://fxmedia.s3.amazonaws.com/articles/16-10-2018uj1.png" alt="USDJPY 1 Hour Chart - Wave Analysis" rel="" style=""></a></p><p>Source: Admiral Markets <a href="https://admiralmarkets.com/trading-platforms/metatrader-5">MT5</a> with MT5SE Add-on USD/JPY motive wave – Accessed 16 October 2018 at 4:00 AM GMT</p><p>The USD/JPY currency pair broke below the support trend line (dotted blue), but bullish <a href="https://admiralmarkets.com/education/articles/forex-basics/everything-you-need-to-know-about-candlestick-trading">candlestick patterns</a> are probably indicating a retracement within the downtrend. A break above the resistance trend lines however, could indicate an uptrend.</p><p>Daily</p><p><a href="https://admiralmarkets.com.au/analytics/wave-analysis/usd-jpy-builds-bearish-abc-pattern-in-wave-e-triangle"><img style="width:auto;" class="img-responsive" src="https://fxmedia.s3.amazonaws.com/articles/16-10-2018ujd.png" alt="USDJPY Daily Chart - Wave Analysis" rel="" style=""></a></p><p>Source: Admiral Markets MT5 with MT5SE Add-on USD/JPY motive wave – Accessed 16 October 2018 at 4:00 AM GMT</p><p>The USD/JPY currency pair has reached a potential support zone, which offers a potential <a href="https://admiralmarkets.com/analytics/traders-blog/top-3-ways-to-trade-breakouts-in-2018">breakout</a> or bounce.</p>This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments. Please note that such trading analysis is not a reliable indicator for any current or future performance, as circumstances may change over time. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the <a href="https://admiralmarkets.com/risk-disclosure">risks</a>. 2018-10-16T08:23:00+00:00 https://admiralmarkets.com.au/analytics/wave-analysis/usd-jpy-builds-bearish-abc-pattern-in-wave-e-triangle https://admiralmarkets.com.au/analytics/wave-analysis/usd-jpy-builds-bearish-abc-pattern-in-wave-e-triangle Wave Analysis <p><a href="https://admiralmarkets.com/start-trading/contract-specifications/instrument/usdjpy" target="_blank"></a><a href="https://admiralmarkets.com/start-trading/contract-specifications/instrument/usdjpy">USD/JPY</a></p><p>4 hour</p><p><a href="https://admiralmarkets.com.au/analytics/wave-analysis/usd-jpy-forms-indecision-triangle-pattern-at-112"><img style="width:auto;" class="img-responsive" src="https://fxmedia.s3.amazonaws.com/articles/15-10-2018uj4.png" alt="USDJPY Hourly Chart - Wave Analysis" rel="" style=""></a></p><p>Source: Admiral Markets <a href="https://admiralmarkets.com/trading-platforms/metatrader-5">MT5</a> with <a href="https://admiralmarkets.com/trading-platforms/metatrader-5">MT5SE Add-on</a> USD/JPY motive wave – Accessed 15 October 2018 at 5:00 AM GMT</p><p>The USD/JPY <a href="https://admiralmarkets.com/education/articles/forex-basics/understanding-the-major-currency-pairs-in-forex-trading">currency pair</a> made a bearish bounce at the 23.6% <a href="https://admiralmarkets.com/analytics/traders-blog/3-effective-ways-of-using-fibonacci-tools">Fibonacci</a> retracement level, which could be part of a wave 4 (red) pattern and the start of the wave 5 (red). A bullish break however, indicates that the price is still in a bullish wave 4-5 (blue) pattern.</p><p>1 hour</p><p><a href="https://admiralmarkets.com.au/analytics/wave-analysis/usd-jpy-forms-indecision-triangle-pattern-at-112"><img style="width:auto;" class="img-responsive" src="https://fxmedia.s3.amazonaws.com/articles/15-10-2018uj1.png" alt="USDJPY Hourly Chart - Wave Analysis" rel="" style=""></a></p><p>Source: Admiral Markets MT5 with MT5SE Add-on USD/JPY motive wave – Accessed 15 October 2018 at 5:00 AM GMT</p><p>The USD/JPY currency pair is testing key support trend lines (blue), and the price is expected to make a bounce or break, which will depend on the <a href="https://admiralmarkets.com/education/articles/forex-basics/everything-you-need-to-know-about-candlestick-trading">candlestick patterns</a> that appear.</p><p>Daily</p><p><a href="https://admiralmarkets.com.au/analytics/wave-analysis/usd-jpy-forms-indecision-triangle-pattern-at-112"><img style="width:auto;" class="img-responsive" src="https://fxmedia.s3.amazonaws.com/articles/15-10-2018ujd.png" alt="USDJPY Daily Chart - Wave Analysis" rel="" style=""></a></p><p>Source: Admiral Markets MT5 with MT5SE Add-on USD/JPY motive wave – Accessed 15 October 2018 at 5:00 AM GMT</p><p>The USD/JPY currency pair has completed the wave Y (pink) of wave D (purple), if the price manages to break below support. A bounce at the support indicates a potential bullish continuation.</p>This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments. Please note that such trading analysis is not a reliable indicator for any current or future performance, as circumstances may change over time. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the <a href="https://admiralmarkets.com/risk-disclosure">risks</a>. 2018-10-15T09:20:00+00:00 https://admiralmarkets.com.au/analytics/wave-analysis/usd-jpy-forms-indecision-triangle-pattern-at-112 https://admiralmarkets.com.au/analytics/wave-analysis/usd-jpy-forms-indecision-triangle-pattern-at-112 Wave Analysis <p>Please find here below this week's wave analysis on the <a href="https://admiralmarkets.com/start-trading/contract-specifications/instrument/eurusd" target="_blank">EUR/USD</a> currency pair, <a href="https://admiralmarkets.com/start-trading/contract-specifications/instrument/gbpusd" target="_blank">GBP/USD</a> currency pair and <a href="https://admiralmarkets.com/start-trading/contract-specifications/instrument/usdjpy" target="_blank">USD/JPY</a> <a href="https://admiralmarkets.com/education/articles/forex-basics/understanding-the-major-currency-pairs-in-forex-trading">currency pair</a> using the daily, weekly and monthly charts. <br></p><p>EUR/USD</p><p>The EUR/USD currency pair completed a wave A (purple) within a wave X (pink) at the 1.14 support zone, and is now probably within a wave B (purple).</p><p>Daily chart:<br></p><p><a href="https://admiralmarkets.com.au/analytics/wave-analysis/weekly-wave-analysis-eur-usd-gbp-usd-usd-jpy-15-october-2018"><img style="width:auto;" class="img-responsive" src="https://fxmedia.s3.amazonaws.com/articles/14-10-2018euD-1.png" alt="Weekly Wave Analysis - Daily Chart - EURUSD" rel="" style=""></a></p><p>Source: Admiral Markets MT5 with MT5SE Add-on EUR/USD motive wave – accessed 14 October 2018 at 5:00 PM GMT</p><p>The EUR/USD currency pair is expecting a bearish ABC (purple) correction within wave B (red). The price is most likely retracing to the <a href="https://admiralmarkets.com/analytics/traders-blog/3-effective-ways-of-using-fibonacci-tools">Fibonacci</a> levels of wave B (purple).</p><p>Weekly chart:<br></p><p><a href="https://admiralmarkets.com.au/analytics/wave-analysis/weekly-wave-analysis-eur-usd-gbp-usd-usd-jpy-15-october-2018"><img style="width:auto;" class="img-responsive" src="https://fxmedia.s3.amazonaws.com/articles/14-10-2018euW-1.png" alt="Weekly Wave Analysis - Weekly Chart - EURUSD" rel="" style=""></a></p><p>Source: Admiral Markets MT5 with MT5SE Add-on EUR/USD motive wave – Accessed 14 October 2018 at 5:00 PM GMT</p><p>The EUR/USD currency pair has completed wave A (red) and the price is now probably in a wave B (red), unless the price breaks below the bottom of wave A. </p><p>Monthly chart:<br></p><p><a href="https://admiralmarkets.com.au/analytics/wave-analysis/weekly-wave-analysis-eur-usd-gbp-usd-usd-jpy-15-october-2018"><img style="width:auto;" class="img-responsive" src="https://fxmedia.s3.amazonaws.com/articles/14-10-2018euM.png" alt="Weekly Wave Analysis - Monthly Chart - EURUSD" rel="" style=""></a></p><p>Source: Admiral Markets MT5 with MT5SE Add-on EUR/USD motive wave – Accessed 14 October 2018 at 5:00 PM GMT</p><p>GBP/USD</p><p>The GBP/USD currency pair made a bearish bounce at the resistance trend line (red), which could be part of a wave 2 (purple) correction. A bullish break however could indicate a bullish WXY (red) correction.</p><p>Daily chart:<br></p><p><a href="https://admiralmarkets.com.au/analytics/wave-analysis/weekly-wave-analysis-eur-usd-gbp-usd-usd-jpy-15-october-2018"><img style="width:auto;" class="img-responsive" src="https://fxmedia.s3.amazonaws.com/articles/14-10-2018guD-1.png" alt="Weekly Wave Analysis - Daily Chart - GBPUSD" rel="" style=""></a></p><p>Source: Admiral Markets <a href="https://admiralmarkets.com/start-trading/account-types">MT5</a> with MT5SE Add-on GBP/USD motive wave – Accessed 14 October 2018 at 5:00 PM GMT</p><p>The GBP/USD currency pair has probably started the bearish wave 5, after the price has completed a wave 4 (light purple) correction.</p><p>Weekly chart:<br></p><p><a href="https://admiralmarkets.com.au/analytics/wave-analysis/weekly-wave-analysis-eur-usd-gbp-usd-usd-jpy-15-october-2018"><img style="width:auto;" class="img-responsive" src="https://fxmedia.s3.amazonaws.com/articles/14-10-2018guW-1.png" alt="Weekly Wave Analysis - Weekly Chart - GBPUSD" rel="" style=""></a></p><p>Source: Admiral Markets MT5 with MT5SE Add-on GBP/USD motive wave – Accessed 14 October 2018 at 5:00 PM GMT</p><p>The GBP/USD currency pair is probably moving lower as part of the wave 5 (purple), whereas a bullish break above the resistance (orange) trend line indicates that a different wave pattern is valid.</p><p>Monthly chart:<br></p><p><a href="https://admiralmarkets.com.au/analytics/wave-analysis/weekly-wave-analysis-eur-usd-gbp-usd-usd-jpy-15-october-2018"><img style="width:auto;" class="img-responsive" src="https://fxmedia.s3.amazonaws.com/articles/14-10-2018guM-1.png" alt="Weekly Wave Analysis - Monthly Chart - GBPUSD" rel="" style=""></a></p><p>Source: Admiral Markets MT5 with MT5SE Add-on GBP/USD motive wave – Accessed 14 October 2018 at 5:00 PM GMT</p><p>USD/JPY</p><p>The USD/JPY currency pair appears to be building a WXY (pink) correction within wave D (purple). </p><p>Daily chart:<br></p><p><a href="https://admiralmarkets.com.au/analytics/wave-analysis/weekly-wave-analysis-eur-usd-gbp-usd-usd-jpy-15-october-2018"><img style="width:auto;" class="img-responsive" src="https://fxmedia.s3.amazonaws.com/articles/14-10-2018ujD-1.png" alt="Weekly Wave Analysis - Daily Chart - USDJPY" rel="" style=""></a></p><p>Source: Admiral Markets MT5 with MT5SE Add-on USD/JPY motive wave – Accessed 14 October 2018 at 5:00 PM GMT</p><p>The USD/JPY currency pair is building a larger ABCDE triangle (light purple) within wave B (red), unless the price manages to break above the 100% Fibonacci level.</p><p>Weekly chart:<br></p><p><a href="https://admiralmarkets.com.au/analytics/wave-analysis/weekly-wave-analysis-eur-usd-gbp-usd-usd-jpy-15-october-2018"><img style="width:auto;" class="img-responsive" src="https://fxmedia.s3.amazonaws.com/articles/14-10-2018ujW-1.png" alt="Weekly Wave Analysis - Weekly Chart - USDJPY" rel="" style=""></a></p><p>Source: Admiral Markets MT5 with MT5SE Add-on USD/JPY motive wave – Accessed 14 October 2018 at 5:00 PM GMT</p><p>The USD/JPY currency pair is probably still in the wave D (light purple) of the triangle pattern, unless it breaks above the 78.6-100% Fibonacci resistance zone. Whether the price will bounce or break will depend on the upcoming <a href="https://admiralmarkets.com/education/articles/forex-basics/everything-you-need-to-know-about-candlestick-trading">candlestick</a> patterns.</p><p>Monthly chart:<br></p><p><a href="https://admiralmarkets.com.au/analytics/wave-analysis/weekly-wave-analysis-eur-usd-gbp-usd-usd-jpy-15-october-2018"><img style="width:auto;" class="img-responsive" src="https://fxmedia.s3.amazonaws.com/articles/14-10-2018ujM-2.png" alt="Weekly Wave Analysis - Monthly Chart - USDJPY" rel="" style=""></a></p><p>Source: Admiral Markets MT5 with MT5SE Add-on USD/JPY motive wave – Accessed 14 October 2018 at 5:00 PM GMT</p>This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments. Please note that such trading analysis is not a reliable indicator for any current or future performance, as circumstances may change over time. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the <a href="https://admiralmarkets.com/risk-disclosure">risks</a>. 2018-10-15T09:04:00+00:00 https://admiralmarkets.com.au/analytics/wave-analysis/weekly-wave-analysis-eur-usd-gbp-usd-usd-jpy-15-october-2018 https://admiralmarkets.com.au/analytics/wave-analysis/weekly-wave-analysis-eur-usd-gbp-usd-usd-jpy-15-october-2018 Wave Analysis <p><a href="https://admiralmarkets.com/start-trading/contract-specifications/instrument/usdjpy" target="_blank"></a><a href="https://admiralmarkets.com/start-trading/contract-specifications/instrument/usdjpy">USD/JPY</a></p><p>4 hour</p><p><a href="https://admiralmarkets.com.au/analytics/wave-analysis/usd-jpy-decision-zone-at-61-8-fibonacci-retracement-level"><img style="width:auto;" class="img-responsive" src="https://fxmedia.s3.amazonaws.com/articles/12-10-2018uj4.png" alt="USDJPY Hourly Chart - Wave Analysis" rel="" style=""></a></p><p>Source: Admiral Markets <a href="https://admiralmarkets.com/trading-platforms/metatrader-5">MT5</a> with <a href="https://admiralmarkets.com/trading-platforms/metatrader-5">MT5SE Add-on</a> USD/JPY motive wave – Accessed 12 October 2018 at 5:30 AM GMT</p><p>The USD/JPY <a href="https://admiralmarkets.com/education/articles/forex-basics/understanding-the-major-currency-pairs-in-forex-trading">currency pair</a> made a bullish bounce at the 61.8% <a href="https://admiralmarkets.com/analytics/traders-blog/3-effective-ways-of-using-fibonacci-tools">Fibonacci</a> retracement level. A bullish break above the resistance trend line (red) could indicate the end of a wave 4 (blue) pattern, and the start of the wave 5 (blue). A bearish break indicates a new wave pattern indicated by the 5 bearish waves (red).</p><p>1 hour</p><p><a href="https://admiralmarkets.com.au/analytics/wave-analysis/usd-jpy-decision-zone-at-61-8-fibonacci-retracement-level"><img style="width:auto;" class="img-responsive" src="https://fxmedia.s3.amazonaws.com/articles/12-10-2018uj1.png" alt="USDJPY Hourly Chart - Wave Analysis" rel="" style=""></a></p><p>Source: Admiral Markets MT5 with MT5SE Add-on USD/JPY motive wave – Accessed 12 October 2018 at 5:30 AM GMT</p><p>The USD/JPY currency pair has either completed a bearish ABC (orange), or is building a 5 wave (red) pattern, which will depend on the <a href="https://admiralmarkets.com/education/articles/forex-basics/everything-you-need-to-know-about-candlestick-trading">candlestick patterns</a> that emerge at the <a href="https://admiralmarkets.com/education/articles/forex-strategy/support-and-resistance-indicators-with-a-trading-strategy" target="_blank">support and resistance</a> trend lines.</p><p>Weekly</p><p><a href="https://admiralmarkets.com.au/analytics/wave-analysis/usd-jpy-decision-zone-at-61-8-fibonacci-retracement-level"><img style="width:auto;" class="img-responsive" src="https://fxmedia.s3.amazonaws.com/articles/12-10-2018ujd.png" alt="USDJPY Daily Chart - Wave Analysis" rel="" style=""></a></p><p>Source: Admiral Markets MT5 with MT5SE Add-on USD/JPY motive wave – Accessed 12 October 2018 at 5:30 AM GMT</p><p>The USD/JPY currency pair is testing a key support trend line (blue), which is a key bounce or break zone.</p>This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments. Please note that such trading analysis is not a reliable indicator for any current or future performance, as circumstances may change over time. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the <a href="https://admiralmarkets.com/risk-disclosure">risks</a>. 2018-10-12T08:32:00+00:00 https://admiralmarkets.com.au/analytics/wave-analysis/usd-jpy-decision-zone-at-61-8-fibonacci-retracement-level https://admiralmarkets.com.au/analytics/wave-analysis/usd-jpy-decision-zone-at-61-8-fibonacci-retracement-level Wave Analysis <p><a href="https://admiralmarkets.com/start-trading/contract-specifications/instrument/usdjpy"></a><a href="https://admiralmarkets.com/start-trading/contract-specifications/instrument/usdjpy">USD/JPY</a></p><p>4 hour</p><p><a href="https://admiralmarkets.com.au/analytics/wave-analysis/usd-jpy-triangle-pattern-waiting-for-a-decisive-breakout"><img style="width:auto;" class="img-responsive" src="https://fxmedia.s3.amazonaws.com/articles/11-10-2018uj4.png" alt="USDJPY Hourly Chart - Wave Analysis" rel="" style=""></a></p><p>Source: Admiral Markets <a href="https://admiralmarkets.com/trading-platforms/metatrader-5">MT5</a> with <a href="https://admiralmarkets.com/trading-platforms/metatrader-5">MT5SE Add-on</a> USD/JPY motive wave – Accessed 11 October 2018 at 5:30 AM GMT</p><p>The USDJPY <a href="https://admiralmarkets.com/education/articles/forex-basics/understanding-the-major-currency-pairs-in-forex-trading">currency pair</a> is testing the 61.8% <a href="https://admiralmarkets.com/education/articles/forex-indicators/how-to-use-fibonacci-retracement-in-forex-trading">Fibonacci retracement</a> level, which is the very last support level that could fit within a potential wave 4 (blue) pattern. A bearish break indicates a bearish swing and a new wave pattern, whereas a bullish bounce could still lead to a bullish continuation within wave 5 (blue), if the price manages to break above the resistance trend line (red).</p><p>1 hour</p><p><a href="https://admiralmarkets.com.au/analytics/wave-analysis/usd-jpy-triangle-pattern-waiting-for-a-decisive-breakout"><img style="width:auto;" class="img-responsive" src="https://fxmedia.s3.amazonaws.com/articles/11-10-2018uj1.png" alt="USDJPY Hourly Chart - Wave Analysis" rel="" style=""></a></p><p>Source: Admiral Markets MT5 with MT5SE Add-on USD/JPY motive wave – Accessed 11 October 2018 at 5:30 AM GMT</p><p>The USD/JPY is showing indecisive <a href="https://admiralmarkets.com/education/articles/forex-basics/everything-you-need-to-know-about-candlestick-trading" target="_blank">candlestick patterns</a> at the 61.8% <a href="https://admiralmarkets.com/analytics/traders-blog/3-effective-ways-of-using-fibonacci-tools" target="_blank">Fibonacci</a> level. Corrective <a href="https://admiralmarkets.com/education/articles/forex-strategy/what-is-price-action-in-forex-trading" target="_blank">price action</a> could however indicate a change in wave patterns, and could be a wave 4 (red), whereas bullish price action will need to break above the resistance trend line (red) to confirm a potential wave 4-5 (blue).</p><p>Weekly</p><p><a href="https://admiralmarkets.com.au/analytics/wave-analysis/usd-jpy-triangle-pattern-waiting-for-a-decisive-breakout"><img style="width:auto;" class="img-responsive" src="https://fxmedia.s3.amazonaws.com/articles/11-10-2018ujD.png" alt="USDJPY Daily Chart - Wave Analysis" rel="" style=""></a></p><p>Source: Admiral Markets MT5 with MT5SE Add-on USD/JPY motive wave – Accessed 11 October 2018 at 5:30 AM GMT</p><p>The USD/JPY currency pair is falling quickly which makes a wave 4 pattern less likely. The recent high is probably the end of the wave Y (pink) of the wave D (purple), but a break below the support trend line (blue) would confirm that.</p>This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments. Please note that such trading analysis is not a reliable indicator for any current or future performance, as circumstances may change over time. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the <a href="https://admiralmarkets.com/risk-disclosure">risks</a>. 2018-10-11T09:39:00+00:00 https://admiralmarkets.com.au/analytics/wave-analysis/usd-jpy-triangle-pattern-waiting-for-a-decisive-breakout https://admiralmarkets.com.au/analytics/wave-analysis/usd-jpy-triangle-pattern-waiting-for-a-decisive-breakout Wave Analysis <p><a href="https://admiralmarkets.com/start-trading/contract-specifications/instrument/usdjpy" target="_blank"></a><a href="https://admiralmarkets.com/start-trading/contract-specifications/instrument/usdjpy">USD/JPY</a></p><p>4 hour</p><p><a href="https://admiralmarkets.com.au/analytics/wave-analysis/usd-jpy-triangle-pattern-waiting-for-decisive-breakout"><img style="width:auto;" class="img-responsive" src="https://fxmedia.s3.amazonaws.com/articles/10-10-2018uj4.png" alt="USDJPY Hourly Chart - Wave Analysis" rel="" style=""></a></p><p>Source: Admiral Markets <a href="https://admiralmarkets.com/trading-platforms/metatrader-5">MT5</a> with <a href="https://admiralmarkets.com/trading-platforms/metatrader-5">MT5SE Add-on</a> USD/JPY motive wave – Accessed 10 October 2018 at 5:30 AM GMT</p><p>The USD/JPY <a href="https://admiralmarkets.com/education/articles/forex-basics/understanding-the-major-currency-pairs-in-forex-trading">currency pair</a> is testing a key support level and decision zone. The 50% <a href="https://admiralmarkets.com/education/articles/forex-indicators/how-to-use-fibonacci-retracement-in-forex-trading" target="_blank">Fibonacci retracement level</a> at 112.83 is a critical bounce or break spot for the wave 4 pattern (blue). A bearish break could see the price test another key support zone at 112.50, but a break below that could indicate a downtrend. A bullish <a href="https://admiralmarkets.com/analytics/traders-blog/top-3-ways-to-trade-breakouts-in-2018" target="_blank">breakout</a> above the resistance trend line (red) could indicate an uptrend continuation. </p><p>1 hour</p><p><a href="https://admiralmarkets.com.au/analytics/wave-analysis/usd-jpy-triangle-pattern-waiting-for-decisive-breakout"><img style="width:auto;" class="img-responsive" src="https://fxmedia.s3.amazonaws.com/articles/10-10-2018uj1.png" alt="USDJPY Hourly Chart - Wave Analysis" rel="" style=""></a></p><p>Source: Admiral Markets MT5 with MT5SE Add-on USD/JPY motive wave – Accessed 10 October 2018 at 5:30 AM GMT</p><p>The USD/JPY is building a triangle pattern, and the breakout direction will depend on <a href="https://admiralmarkets.com/education/articles/forex-basics/everything-you-need-to-know-about-candlestick-trading" target="_blank">candlestick patterns</a> that push through support (blue) or resistance (red), and whether the price has a better chance of moving higher or lower.</p><p>Weekly</p><p><a href="https://admiralmarkets.com.au/analytics/wave-analysis/usd-jpy-triangle-pattern-waiting-for-decisive-breakout"><img style="width:auto;" class="img-responsive" src="https://fxmedia.s3.amazonaws.com/articles/10-10-2018ujw.png" alt="USDJPY Weekly Chart - Wave Analysis" rel="" style=""></a></p><p>Source: Admiral Markets MT5 with MT5SE Add-on USD/JPY motive wave – Accessed 10 October 2018 at 5:30 AM GMT</p><p>The USD/JPY currency pair broke above the resistance trend lines (dotted red), but the breakout might be limited due to the potential triangle chart pattern that is taking place via the ABCD (purple) within wave B (red). The price could bounce at the <a href="https://admiralmarkets.com/analytics/traders-blog/3-effective-ways-of-using-fibonacci-tools">Fibonacci</a> levels if the price is indeed building a triangle pattern.</p>This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments. Please note that such trading analysis is not a reliable indicator for any current or future performance, as circumstances may change over time. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the <a href="https://admiralmarkets.com/risk-disclosure">risks</a>. 2018-10-10T10:29:00+00:00 https://admiralmarkets.com.au/analytics/wave-analysis/usd-jpy-triangle-pattern-waiting-for-decisive-breakout https://admiralmarkets.com.au/analytics/wave-analysis/usd-jpy-triangle-pattern-waiting-for-decisive-breakout Wave Analysis <p><a href="https://admiralmarkets.com/start-trading/contract-specifications/instrument/usdjpy"></a><a href="https://admiralmarkets.com/start-trading/contract-specifications/instrument/usdjpy">USD/JPY</a></p><p>4 hour</p><p><a href="https://admiralmarkets.com.au/analytics/wave-analysis/usd-jpy-testing-key-50-fibonacci-support-at-112-83"><img style="width:auto;" class="img-responsive" src="https://fxmedia.s3.amazonaws.com/articles/09-10-2018uj4.png" alt="USDJPY Hourly Chart - Wave Analysis" rel="" style=""></a></p><p>Source: Admiral Markets <a href="https://admiralmarkets.com/trading-platforms/metatrader-5">MT5</a> with <a href="https://admiralmarkets.com/trading-platforms/metatrader-5">MT5SE Add-on</a> USD/JPY motive wave – Accessed 9 October 2018 at 5:30 AM GMT</p><p>The USD/JPY <a href="https://admiralmarkets.com/education/articles/forex-basics/understanding-the-major-currency-pairs-in-forex-trading">currency pair</a> broke below the support trend line (dotted green) for a bearish <a href="https://admiralmarkets.com/analytics/traders-blog/top-3-ways-to-trade-breakouts-in-2018">breakout</a>, but the price is now approaching the <a href="https://admiralmarkets.com/analytics/traders-blog/3-effective-ways-of-using-fibonacci-tools">Fibonacci</a> retracement levels of wave 4 vs 3. The 50% <a href="https://admiralmarkets.com/education/articles/forex-indicators/how-to-use-fibonacci-retracement-in-forex-trading" target="_blank">Fibonacci retracement level</a> at 112.83 could be a key bounce or a break spot for the wave 4 (blue). A bearish break below it could indicate that a different wave pattern is more likely, whereas a bullish bounce and a breakout could confirm the development of a wave 5 (blue).</p><p>1 hour</p><p><a href="https://admiralmarkets.com.au/analytics/wave-analysis/usd-jpy-testing-key-50-fibonacci-support-at-112-83"><img style="width:auto;" class="img-responsive" src="https://fxmedia.s3.amazonaws.com/articles/09-10-2018uj1.png" alt="USDJPY Hourly Chart - Wave Analysis" rel="" style=""></a></p><p>Source: Admiral Markets <a href="https://admiralmarkets.com/trading-platforms/metatrader-5">MT5</a> with <a href="https://admiralmarkets.com/trading-platforms/metatrader-5">MT5SE Add-on</a> USD/JPY motive wave – accessed 9 October 2018 at 5:30 AM GMT</p><p>The USD/JPY currency pair needs to break above the resistance trend lines (orange and red), with strong bullish <a href="https://admiralmarkets.com/education/articles/forex-basics/everything-you-need-to-know-about-candlestick-trading">candlestick patterns</a> before the end of the wave (blue), and the start of the wave 5 (blue) becomes more likely.</p><p>Daily</p><p><a href="https://admiralmarkets.com.au/analytics/wave-analysis/usd-jpy-testing-key-50-fibonacci-support-at-112-83"><img style="width:auto;" class="img-responsive" src="https://fxmedia.s3.amazonaws.com/articles/09-10-2018ujD.png"></a></p><p>Source: Admiral Markets <a href="https://admiralmarkets.com/trading-platforms/metatrader-5">MT5</a> with <a href="https://admiralmarkets.com/trading-platforms/metatrader-5">MT5SE Add-on</a> USD/JPY motive wave – Accessed 9 October 2018 at 5:30 AM GMT</p><p>The USD/JPY currency pair has shown strong bullish momentum, which is likely to be part of wave Y (pink) of a larger wave D (purple) triangle pattern.</p>This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments. Please note that such trading analysis is not a reliable indicator for any current or future performance, as circumstances may change over time. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the <a href="https://admiralmarkets.com/risk-disclosure">risks</a>. 2018-10-09T09:35:00+00:00 https://admiralmarkets.com.au/analytics/wave-analysis/usd-jpy-testing-key-50-fibonacci-support-at-112-83 https://admiralmarkets.com.au/analytics/wave-analysis/usd-jpy-testing-key-50-fibonacci-support-at-112-83 Wave Analysis <p>Below you will find this week's wave analysis for the <a href="https://admiralmarkets.com/start-trading/contract-specifications/instrument/eurusd" target="_blank">EUR/USD</a> <a href="https://admiralmarkets.com/education/articles/forex-basics/understanding-the-major-currency-pairs-in-forex-trading" target="_blank">currency pair</a>, the <a href="https://admiralmarkets.com/start-trading/contract-specifications/instrument/gbpusd" target="_blank">GBP/USD</a> currency pair and the <a href="https://admiralmarkets.com/start-trading/contract-specifications/instrument/usdjpy" target="_blank">USD/JPY</a> currency pair using the daily, weekly and monthly charts.<br></p><p>EUR/USD</p><p>The EUR/USD currency pair has either completed a wave B (purple) at the recent high, or the price will still expand the bullish correction via the WXY (pink) within wave B (purple). The main support level to something to keep an eye on, because of the current 1.15 round level and the 78.6% <a href="https://admiralmarkets.com/analytics/traders-blog/3-effective-ways-of-using-fibonacci-tools" target="_blank">Fibonacci level</a> around 1.1410. A bullish break above the 1.1550 with <a href="https://admiralmarkets.com/analytics/traders-blog/how-often-should-traders-day-trade" target="_blank">intra-day trading</a> could already indicate a potential bullish bounce. </p><p>Daily chart:<br></p><p><a href="https://admiralmarkets.com.au/analytics/wave-analysis/weekly-wave-analysis-eur-usd-gbp-usd-usd-jpy-8-october-2018"><img style="width:auto;" class="img-responsive" src="https://fxmedia.s3.amazonaws.com/articles/07-10-2018euD.png" alt="EURUSD Daily Analysis - Weekly Wave Analysis" rel="" style=""></a></p><p>Source: Admiral Markets <a href="https://admiralmarkets.com/start-trading/account-types" target="_blank">MT5</a> with <a href="https://admiralmarkets.com/trading-platforms/metatrader-se" target="_blank">MT5SE Add-on</a> EUR/USD motive wave – Accessed 7 October 2018 at 5:00 PM GMT</p><p>The EUR/USD currency pair is expecting a bearish ABC (purple) correction within wave B (red). The price is most likely retracing to the Fibonacci levels of wave B (purple).</p><p>Weekly chart:<br></p><p><a href="https://admiralmarkets.com.au/analytics/wave-analysis/weekly-wave-analysis-eur-usd-gbp-usd-usd-jpy-8-october-2018"><img style="width:auto;" class="img-responsive" src="https://fxmedia.s3.amazonaws.com/articles/07-10-2018euW.png" alt="EURUSD Weekly Analysis - Weekly Wave Analysis" rel="" style=""></a></p><p>Source: Admiral Markets MT5 with MT5SE Add-on EUR/USD motive wave – Accessed 7 October 2018 at 5:00 PM GMT</p><p>The EUR/USD currency pair has completed wave A (red) and the price is now probably in a wave B (red), unless the price breaks below the bottom of wave A. </p><p>Monthly chart:<br></p><p><a href="https://admiralmarkets.com.au/analytics/wave-analysis/weekly-wave-analysis-eur-usd-gbp-usd-usd-jpy-8-october-2018"><img style="width:auto;" class="img-responsive" src="https://fxmedia.s3.amazonaws.com/articles/07-10-2018euM.png" alt="EURUSD Monthly Analysis - Weekly Wave Analysis" rel="" style=""></a></p><p>Source: Admiral Markets MT5 with MT5SE Add-on EUR/USD motive wave – Accessed 7 October 2018 at 5:00 PM GMT</p><p>GBP/USD</p><p>The GBP/USD currency pair made a bullish bounce at the support trend line (blue). A break below that support trend line could indicate a bearish breakout and trend continuation towards the Fibonacci targets of wave 5 (pink). A break above the previous top could indicate an expanded wave 4 (pink). </p><p>Daily chart:<br></p><p><a href="https://admiralmarkets.com.au/analytics/wave-analysis/weekly-wave-analysis-eur-usd-gbp-usd-usd-jpy-8-october-2018"><img style="width:auto;" class="img-responsive" src="https://fxmedia.s3.amazonaws.com/articles/07-10-2018guD.png" alt="GBPUSD Daily Analysis - Weekly Wave Analysis" rel="" style=""></a></p><p>Source: Admiral Markets MT5 with MT5SE Add-on GBP/USD motive wave – Accessed 7 October 2018 at 5:00 PM GMT</p><p>The GBP/USD currency pair has probably started the bearish wave 5 after the price has completed a wave 4 (light purple) correction.</p><p>Weekly chart:<br></p><p><a href="https://admiralmarkets.com.au/analytics/wave-analysis/weekly-wave-analysis-eur-usd-gbp-usd-usd-jpy-8-october-2018"><img style="width:auto;" class="img-responsive" src="https://fxmedia.s3.amazonaws.com/articles/07-10-2018guW.png" alt="GBPUSD Weekly Analysis - Weekly Wave Analysis" rel="" style=""></a></p><p>Source: Admiral Markets MT5 with MT5SE Add-on GBP/USD motive wave – accessed 7 October 2018 at 5:00 PM GMT</p><p>The GBP/USD currency pair is probably moving lower as part of the wave 5 (purple), whereas a bullish break above the resistance (orange) trend line indicates that a different wave pattern is valid.</p><p>Monthly chart:<br></p><p><a href="https://admiralmarkets.com.au/analytics/wave-analysis/weekly-wave-analysis-eur-usd-gbp-usd-usd-jpy-8-october-2018"><img style="width:auto;" class="img-responsive" src="https://fxmedia.s3.amazonaws.com/articles/07-10-2018guM.png"></a></p><p>Source: Admiral Markets MT5 with MT5SE Add-on GBP/USD motive wave – Accessed 7 October 2018 at 5:00 PM GMT</p><p>USD/JPY</p><p>The USD/JPY currency pair seems to be building a WXY (pink) correction within wave D (purple). </p><p>Daily chart:<br></p><p><a href="https://admiralmarkets.com.au/analytics/wave-analysis/weekly-wave-analysis-eur-usd-gbp-usd-usd-jpy-8-october-2018"><img style="width:auto;" class="img-responsive" src="https://fxmedia.s3.amazonaws.com/articles/07-10-2018ujD.png" alt="USDJPY Daily Analysis - Weekly Wave Analysis" rel="" style=""></a></p><p>Source: Admiral Markets MT5 with MT5SE Add-on USD/JPY motive wave – Accessed 7 October 2018 at 5:00 PM GMT</p><p>The USD/JPY currency pair broke above the resistance trend lines (dotted red), which is either the start of a bullish trend or still part of the larger ABCDE triangle (light purple) within wave B (red).</p><p>Weekly chart:<br></p><p><a href="https://admiralmarkets.com.au/analytics/wave-analysis/weekly-wave-analysis-eur-usd-gbp-usd-usd-jpy-8-october-2018"><img style="width:auto;" class="img-responsive" src="https://fxmedia.s3.amazonaws.com/articles/07-10-2018ujW.png" alt="USDJPY Weekly Analysis - Weekly Wave Analysis" rel="" style=""></a></p><p>Source: Admiral Markets MT5 with MT5SE Add-on USD/JPY motive wave – Accessed 7 October 2018 at 5:00 PM GMT</p><p>The USD/JPY currency pair is probably still in the wave D (light purple) of the triangle pattern, unless it breaks above the 78.6-100% Fibonacci resistance zone. Whether the price will bounce or break will depend on the upcoming <a href="https://admiralmarkets.com/education/articles/forex-basics/everything-you-need-to-know-about-candlestick-trading" target="_blank">candlestick</a> patterns.</p><p>Monthly chart:<br></p><p><a href="https://admiralmarkets.com.au/analytics/wave-analysis/weekly-wave-analysis-eur-usd-gbp-usd-usd-jpy-8-october-2018"><img style="width:auto;" class="img-responsive" src="https://fxmedia.s3.amazonaws.com/articles/07-10-2018ujM.png" style="" alt="USDJPY Monthly Analysis - Weekly Wave Analysis" rel=""></a></p><p>Source: Admiral Markets MT5 with MT5SE Add-on USD/JPY motive wave – Accessed 7 October 2018 at 5:00 PM GMT</p>This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments. Please note that such trading analysis is not a reliable indicator for any current or future performance, as circumstances may change over time. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the <a href="https://admiralmarkets.com/risk-disclosure" target="_blank">risks</a>. 2018-10-08T08:33:00+00:00 https://admiralmarkets.com.au/analytics/wave-analysis/weekly-wave-analysis-eur-usd-gbp-usd-usd-jpy-8-october-2018 https://admiralmarkets.com.au/analytics/wave-analysis/weekly-wave-analysis-eur-usd-gbp-usd-usd-jpy-8-october-2018 Wave Analysis