Hello traders!
Today we will talk about 10Y US Notes and USDJPY, their price action from technical point of view and wave structure from Elliott Wave perspective.
As you may already know, 10Y US Notes(treasury bonds) and USDJPY are in negative correlation. So, after recent big sideways price action and corrective consolidation, the pattern is becoming clearer and clearer.
Well, what we see is that USDJPY can be forming a bigger bearish running triangle formation, which can sooner or later push the price below 104 level, ideally towards 103 - 102 area, mainly because of current bounce on 10Y US Notes, which seems to have a completed flag pattern, from EW perspective, an a-b-c corrective decline, where wave "c" completed an ending diagonal.
Be humble and trade smart!
If you like what we do, then please like and share our idea!
Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
Today we will talk about 10Y US Notes and USDJPY, their price action from technical point of view and wave structure from Elliott Wave perspective.
As you may already know, 10Y US Notes(treasury bonds) and USDJPY are in negative correlation. So, after recent big sideways price action and corrective consolidation, the pattern is becoming clearer and clearer.
Well, what we see is that USDJPY can be forming a bigger bearish running triangle formation, which can sooner or later push the price below 104 level, ideally towards 103 - 102 area, mainly because of current bounce on 10Y US Notes, which seems to have a completed flag pattern, from EW perspective, an a-b-c corrective decline, where wave "c" completed an ending diagonal.
Be humble and trade smart!
If you like what we do, then please like and share our idea!
Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
