Category Archives: YEN
YEN, 1978-2016 Monthly Chart Elliott Wave Count Review
Since currencies seemed to be unstable around the world, (just changing directions), it is a good idea to review the YEN again. I went as far back as this monthly chart allows, and it is enough to see there may be an Impulse wave in progress. This impulse, changed to a diagonal 5th wave. As soon as the 4th wave in Intermediate degree was finished, the last 5 waves have been in a diagonal pattern.
Now look at the potential diagonal 4th wave crash recent bottom. See how deep it has gone before it reversed. Can a 4th wave diagonal low dip into the previous diagonal wave 2 this far? You bet they can and they do it regularly. The 4th wave stopped well into wave 2 but did not go below it.
Unless the YEN is still bent on making a small triangle, we should see all time new record highs with the yen. So at best, the YEN may hit a Cycle degree wave 3 top in a few years and then a new bear market should unfold.
Hits: 0
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_2.gif)
