Browsing: USDYEN outlook

In this case study of USD/YEN, I will show you how one could have used an extending fifth wave to prepare for a profitable trade. Let me start by asserting that the main goal of any trader is to identify low-risk trading opportunities before a move actually takes place. Once such a trading opportunity is identified, one should be patient for the right moment to pull the trigger. Elliott wave analysis offers one very clear trading set up that invariably produces impressive winners.

Anyone who has traded the Yen knows that it is a different animal from the rest of the pack. But there is one undeniable fact about this currency, it is a trending currency. Once it sets off on a trend, it stays with that trend for a long time.