Daily Elliott Wave Forecast: USDJPY, WTI, NZDUSD (13.04.22)

13 April 2022 Amega

Dollar is up 1.60% against the yen so far this week and rising. Its 5-wave structure nears its end, however. Can the 126.00 hold bull, or should we expect 127.00 to make a difference? Yesterday’s doji might have put an end to the extended 3rd wave, and the 5th could do the trick.

OIL soared ~7% on Tuesday after printing a fresh low in wave (4). If this is indeed the end of the correction, revisiting the March high is a very likely scenario. Can bulls maintain triple-digit price levels or are we in for another dump?

Kiwi plummeted 1.50% from its intraday top at 69c, erasing 100 pips in a matter of hours. Is this the beginning of an extended 3rd wave that can take us down to 65c or will it form only a correction pattern followed by further upside?

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