{"id":13360,"date":"2025-05-29T22:26:58","date_gmt":"2025-05-29T22:26:58","guid":{"rendered":"https:\/\/alchemymarkets.com\/?post_type=market_insights&#038;p=13360"},"modified":"2025-05-29T22:34:43","modified_gmt":"2025-05-29T22:34:43","slug":"usdjpy-shooting-star-daily","status":"publish","type":"market_insights","link":"https:\/\/alchemymarkets.com\/sv\/education\/market-insights\/elliott-wave\/usdjpy-shooting-star-daily\/","title":{"rendered":"USDJPY Carves Shooting Star [USDJPY Bearish Elliott Wave]"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Executive Summary:<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>USDJPY bearish shooting star pattern today<\/li>\n\n\n\n<li>A break below 142.10 may accelerate to 130 and 122<\/li>\n\n\n\n<li>148.65 is bearish key level<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Elliott Wave Pattern on USDJPY<\/h2>\n\n\n\n<p>The daily chart for today\u2019s USDJPY price yielded a <a href=\"https:\/\/alchemymarkets.com\/education\/candlesticks\/shooting-star-pattern\/\">shooting star<\/a> formation. This is a bearish pattern and suggests a larger decline may develop.<\/p>\n\n\n\n<p>Couple the bearish candlestick formation with a bearish <a href=\"https:\/\/alchemymarkets.com\/education\/guides\/elliott-wave-theory\/\">Elliott wave count<\/a> and we have a recipe for a large decline to unfold.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"746\" src=\"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2025\/05\/USDJPY_2025-05-29_17-14-47-1024x746.png\" alt=\"\" class=\"wp-image-13361\" srcset=\"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2025\/05\/USDJPY_2025-05-29_17-14-47-1024x746.png 1024w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2025\/05\/USDJPY_2025-05-29_17-14-47-300x218.png 300w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2025\/05\/USDJPY_2025-05-29_17-14-47-768x559.png 768w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2025\/05\/USDJPY_2025-05-29_17-14-47.png 1173w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>We\u2019ve been bearish for <a href=\"https:\/\/alchemymarkets.com\/education\/market-insights\/elliott-wave\/yen-joins-gold-at-the-hip\/\">quite some time<\/a> as the larger pattern reveals a large third wave unfolding. Now, after a series of bearish (i)-(ii)-i-ii patterns suggests that USDJPY could be in line for a wave 3 decline at three degrees of trend. If true, this would be a large scale decline that dramatically punches below the 139-141 support shelf and continues to much lower levels.<\/p>\n\n\n\n<p>The target for wave iii, using the <a href=\"https:\/\/alchemymarkets.com\/education\/indicators\/fibonacci-extensions\/\">Fibonacci extension tool<\/a>, arrives near 130, with a downtrend to 122 possible.<\/p>\n\n\n\n<p>Wave (ii) and wave ii each last about 20 calendar days. Therefore, this large bearish pattern may show its hand within a couple of weeks by mid-June.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Bottom Line<\/h2>\n\n\n\n<p>USDJPY carved a bearish shooting star candlestick with today\u2019s price action. Additionally, the Elliott wave count appears to be setting up for a wave 3 decline at three degrees of trend. Initial downside targets are 130 and 122 with lower levels possible.<\/p>\n\n\n\n<p><em>You might be interested in:<\/em><\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-wp-embed is-provider-alchemy-markets wp-block-embed-alchemy-markets\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"wp-embedded-content\" data-secret=\"Z8MZgsfc7G\"><a href=\"https:\/\/alchemymarkets.com\/education\/market-insights\/elliott-wave\/golds-gleaming-glide-or-grinding-gloom\/\">Gold\u2019s Gleaming Glide or Grinding Gloom? [Gold Elliott Wave]<\/a><\/blockquote><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; visibility: hidden;\" title=\"&#8220;Gold\u2019s Gleaming Glide or Grinding Gloom? [Gold Elliott Wave]&#8221; &#8212; Alchemy Markets\" src=\"https:\/\/alchemymarkets.com\/education\/market-insights\/elliott-wave\/golds-gleaming-glide-or-grinding-gloom\/embed\/#?secret=g053Lo0lAx#?secret=Z8MZgsfc7G\" data-secret=\"Z8MZgsfc7G\" width=\"500\" height=\"282\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe>\n<\/div><\/figure>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p> USD\/JPY Elliott wave analysis suggests a bearish trend reaching 130 and possibly 122. See the key levels inside.<\/p>\n","protected":false},"author":160,"featured_media":13363,"parent":0,"comment_status":"open","ping_status":"closed","template":"","market_insights_categories":[16],"class_list":["post-13360","market_insights","type-market_insights","status-publish","has-post-thumbnail","hentry","market_insights_categories-elliott-wave"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>USDJPY Carves Shooting Star [USDJPY Bearish Elliott Wave] - Alchemy Markets<\/title>\n<meta name=\"description\" content=\"USD\/JPY Elliott wave analysis suggests a bearish trend reaching 130 and possibly 122. 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