• 1 hour Emerging Market Woes Spark Surge In Bitcoin Trading Volume
  • 3 hours Saudis Sovereign Wealth Fund Eyes Tesla Rival
  • 19 hours Inflation Wipes Out Wage Growth
  • 2 days Turks Flock To Safe Haven Assets As Lira Plummets
  • 3 days Did North Korean Hackers Just Steal $13M From Global ATMs?
  • 3 days Asian Tech Stocks Rebound After A Tough Week
  • 3 days Switzerland Bans New Audi, Mercedes, Porsche Imports
  • 3 days Sealing Off The North Korea Smuggling Loophole
  • 3 days This Tech Giant Is Pushing For Blockchain Adoption
  • 3 days Venezuela’s Gold Reserves Are Reaching Critical Levels
  • 4 days Brexit Woes Weigh On The British Pound
  • 4 days Forget Turkey, This Is The Biggest Threat To European Finance
  • 4 days There’s No Hiding From Google
  • 4 days Turkish Lira Bounces Back After Qatar Bailout Pledge
  • 4 days What Happens If Tesla Goes Private?
  • 4 days China's Most Powerful Weapon In The Trade War
  • 4 days Can The S&P 500 Shake Off Negative Sentiment?
  • 5 days Standards Go Out The Window As Employers Struggle To Fill Jobs
  • 5 days The Two Trillion Dollar Markets Amazon Hasn’t Conquered
  • 5 days Digital Supermodels Outperform Humans
U.S.-Turkey Tensions Take A Dangerous Turn

U.S.-Turkey Tensions Take A Dangerous Turn

U.S.-Turkey tensions have reached a…

Time To Buy A Lada? Russian Auto Sales Are Booming

Time To Buy A Lada? Russian Auto Sales Are Booming

Russia’s flagship carmaker was once…

Elliottwave-Forecast

Elliottwave-Forecast

Elliottwave-Forecast

Elliottwave-Forecast.com (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to…

Contact Author

  1. Home
  2. Markets
  3. Other

EURJPY Short-Term Elliott Wave Analysis

Current short term Elliott wave view suggests rally from 1.5169 is unfolding in a double correction structure W-X-Y where wave W ended at 1.5554 and wave X ended at 1.5419. Wave Y is in progress and unfolding as a triple correction structure ((w))-((x))-((y))-((x))-((z)) where wave ((w)) ended at 1.56, wave ((x)) ended at 1.5484, wave ((y)) ended at 1.5756, second wave ((x)) ended at 1.5675, and wave ((z)) is in progress towards 1.5937 - 1.612 to complete wave (W).

Expect some profit taking from 1.5937 - 1.612 area and the pair to pullback in wave (X) in 3, 7, or 11 swing to correct the cycle from 6/1/2015 low at 1.5169 before it is ready to resume higher again. Alternative view suggests wave (W) is already complete at the last high 1.593 and the pair is already in wave (X) pullback. We don't like selling the proposed pullback in wave (X). As far as 1.5169 pivot stays intact during the pullback, expect the pair to resume rally to new high or at least bounce in 3 waves per Elliott Wave hedging idea.

EURJPY Short-Term Elliott Wave Analysis Chart
Larger Image

 


If you would like to have an access of EWF analysis in real time, click here and feel free to join us. We provide Elliott Wave charts in 4 different time frames, 2 live webinars by our expert analysts every day, 24 hour chat room support, market overview, daily and weekly technical videos and much more.

 

Back to homepage

Leave a comment

Leave a comment