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. 

Ananyavrat
2016-06-24
Hi Surfer,

Super calls !! And analysis.

Bravo for your brexit call !!
Whats next?

Ull need to update all indices!

Ananyavrat
Duane
2014-08-29
Hey EWS,

Great work on the GBPCAD and the NZDCAD. These are the type of opportunities that I am looking for, monthly turns caught with daily or hourly entries. Easy money!!

Duane
Roelant
2016-06-26
Hi Elliotwavesurfer,

Your forecast of the EURUSD waves and reversals on Brexit day were spot on! This was not chaos, the crowd followed a pattern!

GBPUSD was abolutely 100% too!Unbelievably accu...