EUR/JPY - Invers S/H/S bottom in play

EUR/JPY invers S/H/S bottom in play

The failure to even break back below Fridays low at 136.42 is a sing of underlying strength and the invers S/H/S bottom is now in play. We still need a break above the neck-line resistance at 138.00 to activate this bottom, but a break above resistance at 137.66 will call for a strong test of this neckline resistance and a break above 138.00 will call for a continuation towards 140.19 and maybe even higher.

In the larger picture the failure to reach the equality target between wave A and C is also a sign of underlying strength in this cross. We knew, that we was looking at a correction from 145.69 as the question now is, whether this correction is going to be even more complex. At this point it's impossible to say, so we will have to assume, that wave II is in place and a strong wave III is developing. If this is the case then we will see 145.69 broken for a continuation higher to at least 187.09. 

Hani
2014-06-06
I have been a fan of you blog for several years!
I am so impressed at your renewal.
Elliott wave analysis is so difficult to me, but so interesting and useful.

Thank you
Hani
JT
2014-06-23
Its been a pleasure over the years I have been following you and even better as a member the education you provide in my view is invaluable you can read books as I have but to see how you evolve your ...
Thomas
2014-05-28
phenomenal new service EWS, I have followed you for 18 months and the exceptional analysis continues unabated! I look forward to the daily updates focusing on the most interesting and potentially lucr...