USD/JPY 240-min & EUR/USD Daily (bearish) View

USD/JPY 240-min & EUR/USD Daily (bearish) View
14 August 2018/9:58 p.m. ET

Added short USD/JPY...

USD/JPY 240-min view:  Expecting the yen to once again play a safe haven role on a continued move lower in stocks.  61.8% retrace of Wave [i] comes in at 111.36 which it is now testing. Looking for this correction to cap at 111.70--78.6% retracement. I'm expecting a sharp move lower Wave [iii] on a risk-off move in stocks.  

081418 jpy 240.png

  
EUR/USD Daily:  Price action--a break to a new loss--today suggests any correction higher in the euro may be over.  Below is a bearish count showing an eventual move down to 1.0800-level.  I have also noted a head and shoulder setup being traced out--the neckline broken today.  Probabilities are rising the bearish view is in play.  Near-term the pair is extended based on momentum.

081418 eur daily (BlackSwan-PC's conflicted copy 2018-08-15).png

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