Wednesday, 10 June 2015

Hang Seng falls from Head & Shoulders top at 3.5 year old trend channel resistance

Daily chart shows the Hang Seng has completed a Head and Shoulders top.

Weekly chart shows that the top occurred at trend channel resistance.

Next weekly chart zooms out further to illustrate the most suitable Elliott Wave count and scenario.

USD/JPY reversing lower at long term resistance, beginning decline to 102?

Monthly chart shows that USD/JPY recently rallied to our long term target, the top of the illustrated wedge. Is it now beginning a decline toward support at 102?