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Elliott Wave Intraday Analysis: NZD/JPY Confirms Bears

By:
Gregor Horvat

Today we will talk about NZDJPY pair in which we pretty nice and clean intraday Elliott wave bearish development.

Elliott Wave Intraday Analysis: NZD/JPY Confirms Bears

In this article:

NZD/JPY Technical Analysis

NZDJPY turned sharply and impulsively down from the highs and we are tracking an Elliott wave minimum three-wave A/1-B/2-C/3 decline, where higher degree wave C/3 could be already in play after a completed Elliott wave three-wave (A)-(B)-(C) corrective setback in wave B/2.

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Trading Strategy

Waves C and 3 are impulsive waves which should be completed by a five-wave cycle of the lower degree. We can actually clearly see an Elliott wave intraday bearish setup formation with five waves of decline away from 85.40 level that can easily send the price even lower, just be aware of short-term Elliott wave intraday corrective pullbacks.

Check similar Elliott Wave analysis idea for AUDJPY pair: CLICK HERE

Trade well!

About the Author

Gregor Horvatcontributor

Gregor is based in Slovenia and has been involved in markets since 2003. He is the owner of Ew-Forecast, but before that, he was working for Capital Forex Group and TheLFB.com.

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