As I’ve said before, Elliot Wave is not my cup of tea. But, it is very popular and used by many.

Here’s a brief piece from Nomura with an Elliot view on USD/JPY. Unfortunately its from a day or so ago.

Quote:

What to watch today… …$JPY is working on a wave-iv (bullish) consolidation at the June downtrend zone. We expected the ~101.70 area to contain this consolidation in terms of price. Once complete a new march towards the key 102.27 level can unfold.

Nomura Elliot Wave chart technical analysis 30 July 2014

Nice one indeed.

Any Elliot Wave traders out there like to comment or contribute, give us their views on any currency (or other trading instrument)?