Elliott Wave Analysis of USDJPY – July 11th, 2022

In the week of the assassination of ex-primier minister of Japan Shinzo Abe, the yen again fell against the US dollar.

Is USDJPY approaching the end of its uptrend or still far from it? Read in our latest Elliott Wave analysis.

In the midst of geopolitical turmoil and economic uncertainty, the USDJPY pair continues to attract attention from traders and investors around the world. The recent assassination of Japan’s former prime minister, Shinzo Abe, sent shockwaves through the financial markets, causing the yen to weaken yet again against the US dollar.

With these latest developments in mind, many are now wondering whether USDJPY is approaching the end of its uptrend or if there is still further room for growth. To answer this question, our team of analysts at EWM Interactive have conducted a comprehensive Elliott Wave analysis of the currency pair.

While we cannot reveal all the details of our findings here, we can say that our analysis suggests that USDJPY may be nearing a key turning point. The charts are showing signs of potential reversal, indicating that the current uptrend may be running out of steam.

However, as with any financial analysis, there are no guarantees. The markets are unpredictable, and anything can happen. It is crucial for traders and investors to stay informed and adapt their strategies accordingly.

How this will affect me:

For individual traders and investors, the potential reversal of USDJPY could have significant implications. Those who are currently holding long positions in the pair may want to consider taking profits or implementing risk management strategies to protect their gains. On the other hand, those looking to enter new positions may see this as an opportunity to take advantage of a potential downtrend.

How this will affect the world:

On a larger scale, the movement of USDJPY can have ripple effects throughout the global economy. A weakening yen could boost Japanese exports, making the country’s goods more competitive on the international market. At the same time, a stronger dollar could impact US trade relations with Japan and other countries around the world.

Conclusion:

As we await further developments in the USDJPY pair, it is important to stay informed and remain vigilant. The financial markets are always in a state of flux, and being able to adapt to changing conditions is key to success in trading and investing. Keep an eye on the charts, listen to expert analysis, and most importantly, trust your instincts.