Japanese Stock Market Nikkei and Yen Preparing to Reverse Trends
Stock-Markets / Japanese Stock Market Jul 10, 2016 - 05:22 PM GMTBy: Tony_Caldaro
On Friday the Yen hit our long term target of par (100).
A declining C wave should begin shortly to resume its bear market.
While the Yen was rallying for one year, the Nikkei was also declining in what looks like a seven wave, double bottom Primary wave IV. A declining Yen should be a catalyst for a rising Primary V in the Nikkei over the long term.
An interesting setup in what lately appears to be a currency driven equity market. This is not a trade recommendation. It is simply an observation of two inversely related assets, nearing potential long term wave formation reversals. The charts of both assets are posted on page 7 (NIKK) and page 14 (JPY) on the stock charts link:
CHARTS: http://stockcharts.com/public/1269446/tenpp
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Copyright © 2016 Tony Caldaro - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.
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