Japanese Yen May Face A RecoveryFeb 29, 2024

Japanese Yen May Face A Recovery, as we see it breaking the trendline from technical point of view and from Elliott wave perspective.

Japanese Yen has been very weak since start of the year, but we can see a three-wave A-B-C corrective decline on Japanese Yen Futures chart, which can be now completed by current sharp reversal up above important trendline. So, we believe that Japanese yen may now face a recovery in the upcoming days/weeks, maybe months, just be aware of short-term pullbacks.

JPY Futures 4H Chart

If we take a look for example on CADJPY pair, we can see it turning down sharply while breaking the trendline, so if we get a lower degree five wave drop, then we can easily confirm top in place and bearish reversal, at least down to 108 area or maybe even lower.


Become a premium member

Get daily Elliott Wave updates for some major Digital currencies, FIAT currency markets, major stock indexes, gold, silver, crude etc. or apply for unlimited access to the Elliot Wave educational videos.

GBTC Is About To Break All-Time Highs. Check our free chart HERE.


Any reviews, news, analysis, prices or other information contained on our website is provided as general market commentary and delivered electronically through a distribution channel to larger number of clients, therefore does not constitute investment advice or investment research. We are not trading advisors. Most of our work is for educational purposes only, with information based on Elliott Wave theory in real time. Trading forex, futures, options, stocks, cryptocurrenices or any another trading market carries a high level of risk, and may not be suitable for all investors.

The possibility exists that you could lose some or all of your initial investment; therefore you should not invest money that you cannot afford to lose. Our website and the information that we provide should not be relied upon as a substitute for extensive independent research before making your investment decisions. In no event will we be liable for any loss or damage on your account in connection with, the use of our products. For any real cash investments you have to contact your financial advisor.

Any information or material contained on our website is owned by Val Global d.o.o.. Reproduction is prohibited without Val Global d.o.o. prior license in writing.

By continuing to use the site, you agree to the use of cookies. Learn more.

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.