Review and forecast for USD / JPY pair
The lateral vector of price fluctuations of the Japanese major currency pair is due to the corrective nature of the dominant wave. Over the past year, extreme prices were formed in a "downward triangle" figure. A preliminary calculation of the target area gives a landmark in the form of a zone between the 104th and 106th price figure.
In the vicinity of the nearest potential turn zone, the probability of the continuation of the opposite recoil is preserved is in the form of an upward wave zigzag.
Today, you can expect a brief rise in the price quotations of the pair in the next session. Most likely, the rollback will be completed in the resistance zone. Towards the end of the day, there is a probability of a return to the main direction of traffic increases.
Boundaries of resistance zones:
- 109.20 / 50
Boundaries of support zones:
- 108.40 / 10
Review and Forecast for NZD / USD pair
Structural analysis of the latest long-wave model from August 2015 provides an explanation for the short-term trends of the instrument. We can state the completion of the first two parts of the ascending wave. Last year, the last ascending segment from November 17 gave the beginning of the final part (C) of the main trend.
In the last two weeks, the price is in the flat correction from the previous price growth. The closest part of the chart where you can wait for the completion of the current correction is approximately in 2 price figures below the current price of the instrument.
The main direction of the pair is the rate of the trade. The European session does not exclude a short-term price.
Boundaries of resistance zones:
- 0.7320 / 50
Boundaries of support zones:
- 0.7240 / 10
Explanations of the figures:
For simplified wave analysis, a simple waveform is used that combines 3 parts namely A, B, and C. All types of correction are created and most of the impulses can be found in these waves. Every time frame is considered and the last incomplete wave is analyzed.
The areas marked on the graphs indicate the probability of a change in the direction of motion has significantly increased as calculated in the areas. Arrows indicate the wave counting following the technique used by the author. A solid background of the arrows signifying the structure has been formed while the dotted one means the expected wave motion.
Attention: The wave algorithm does not take into account the duration of the movement of tools in time. The forecast is not a trading signal! To conduct a bargain, you need to confirm the signals used by your trading systems.