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Category Archives: YEN

YEN, 1978-2016 Monthly Chart Elliott Wave Count Review

 

J6Y00-July-5-2016

 

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.  

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