Harmonic Zigzags - page 17

 

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.

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zup 12/27 chart

Re-attaching chart 12.

Files:
zup_12.jpg  37 kb
 

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.

Files:
zup_13.jpg  35 kb
 

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.

Files:
zup_14.jpg  34 kb
 

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.

Files:
zup_15.jpg  32 kb
 

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.

Files:
zup_16.jpg  30 kb
 

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.

Files:
zup_17.jpg  33 kb
 

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.

Files:
zup_18.jpg  32 kb
 

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.

Files:
zup_19.jpg  32 kb