18.01.202307:11 Forex Analysis & Reviews: Elliott wave analysis of USD/JPY for January 18, 2023

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

The spike higher is confirmation that wave b of B completed with the test of 127.22 and wave c of B now is in progress towards the 138.20 - 138.73 area to complete the expanded flat correction in wave B. The ongoing c-wave should unfold in five sub-waves and end above the termination point of wave a at 134.77.

That said, we must remember that B-wave has an endless variety of wave combinations at its disposal, making them very difficult to decipher. That doesn't mean that the Elliott wave principle doesn't apply, it absolutely does, but the waves don't really reveal themselves until the very last minute.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.