Harmonic Zigzags - page 17
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zup 12/27
Chart 12)
EUR/JPY is on a downtrend. It is not a strong downtrend as the GBP/JPY.
EUR/USD is stronger than GBP/USD.
Using EUR/JPY, EUR/USD, USD/JPY to show multi-currencies strengths.
Template used =
zup 12/27 chart
Re-attaching chart 12.
Zup 13/27
Chart 13)
GBP/JPY is on a strong downtrend. GBP/USD is weaker than the EUR/USD.
Using GBP/JPY, GBP/USD, USD/JPY to show multi-currencies strengths.
zup 14/27
Chart 14)
EUR/JPY formed 8-6-4-2-1. Hits the 4 Hour (Magenta) beam. From the failed Bullish Bat formation on leg 4-2-1, it went up
to the 2nd Daily Resistance and fell.
Since EUR/USD is strong and USD/JPY is weak, EUR/JPY does not do a big fall but there is no support in sight for now.
zup 15/27
Chart 15)
EUR/JPY hit the Yearly Pivot on leg 3 of the Bearish Bat. It may still go down since there is no strong support.
The strongest support will be the Yearly Support at 153.48.
zup 15/27 chart
Re-attaching zup 15/27 chart.
zup 16/27
Chart 16)
USD/JPY formed 6-4-3, hits the 4 Hour (Magenta) beam of resistance, then dropped from 2 to 1.
A steep down slope of the 14 and 21 EMAs exists and there is no support.
zup 17/27
Chart 17)
USD/JPY formed 6-4-3, hits the 4 Hour (Magenta beam), then dropped from 2 to 1.
A steep down slope of the 14 and 21 EMAs.
Hits the Yearly Support 1 at 103.26 and still dropped.
zup 18/27
Chart 18)
GBP/JPY forming: 8-6-4-3, hits the 4 Hour (Magenta) beam. Formed a Bearish Bat on point 3 and goes down from there.
The 14 and 21 EMA cross down and goes down on a free fall.
It will still go down until it finds a support below.
May still go down for a few more days.
zup 19/27
Chart 19)
GBP/JPY forming: 8-6-4-3, hits the 4 Hour (Magenta) beam. Formed a Bearish Bat on point 3 and goes down from there.
The 14 and 21 EMA cross down and goes down on a free fall. It will still go down until it finds a support below.
May still go down for a few more days.