Phils_Ocean

EURJPY Wave Analysis

Corto
FX:EURJPY   Euro/Yen japonés
EURJPY is like all the YEN pairs at an interesting point. Follow me to receive future updates with detailed Elliott wave analysis.

  • EURJPY made higher highs and higher lows over the last months and weeks and formed a 5-waved motive wave
  • After this significant move to the upside we got a ABC correction, which is a bigger wave A
  • At the moment we are at the end of the bigger Wave B, which is a flat, or slightly extended flat correction

  • The next push will be wave C to the downside
  • The turquoise rectangle represents the weekly mother bar, have a look at the picture below

I expect Wave C to make a fake breakout to the downside out of the rectangle. After this market should continue to strive for new highs.

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