• 12 hours Trump Prepares For Another Key Tariff Decision
  • 16 hours The Free Money Bubble Is About To Burst
  • 1 day The Crushing Reality Of Poverty In America
  • 2 days Should You Buy Into The World’s Largest IPO?
  • 2 days The Infinite Possibilities Of Cosmic Energy
  • 2 days Analysts Link Walking To Economic Growth
  • 4 days Will Japan Turn Its Back On The Aramco IPO?
  • 4 days Global Debt Soars To $188 Trillion
  • 5 days The World's Largest Gold Miners Are Getting Creative
  • 5 days Twitter: The Saudi Spy Tool To Bring Down Dissidents
  • 6 days Broad Commodity Funds Don’t Give Enough Exposure To Gold
  • 6 days Here We Go Again: Another Giant Telecoms Mega-Merger
  • 7 days World's Largest Gold Miner Sees Profits Triple
  • 7 days Microsoft Japan Trials 4 Day Work Weeks, Productivity Soars By 40%
  • 8 days Hedge Funds Lose $4 Billion In Four Days As California Wildfires Rage On
  • 8 days New Viral App May Be A National Security Threat In Disguise
  • 9 days China's $10 Trillion Space Play
  • 9 days Human Energy: Debunking The Matrix
  • 9 days Cannabis Has Become A Real Estate Selling Point
  • 11 days The Gold Stock Boom Is Just Getting Started
Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

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 Elliott Wave View: More Downside

Short term Elliott Wave view in EURJPY suggests that cycle from 3/12 peak (122.89) is unfolding as a double three Elliott wave structure where Minor wave W ended at 119.28 and Minor wave X ended at 120.45. Minor wave Y is in progress and the internal is unfolding also as a double three Elliott wave structure where Minute wave ((w)) can be complete already at 117.8 and wave ((x)) bounce should correct cycle from 3/28 peak (120.445) before pair turns lower. As pair is showing a 5 swing bearish sequence from 3/12 peak as well as from 12/14/2016 peak, more downside is expected in the pair. We don’t like buying the proposed bounce and expect sellers to appear once wave ((x)) bounce is complete in 3, 7, or 11 swing provided that pivot at 3/28 high is intact in the first degree.


1-Hour EURJPY Elliott Wave Chart

EUR/JPY 1-Hour Chart
Larger Image


Elliott Wave Degree

 


At Elliottwave-Forecast, we offer 24 hour coverage of 52 instruments from Monday - Friday using Elliott Wave Theory as primary tools of analysis. We provide Elliott Wave chart in 4 different time frames, up to 4 times a day update in 1 hour chart, two live sessions by our expert analysts, 24 hour chat room moderated by our expert analysts, market overview, and much more! With our expert team at your side to provide you with all the timely and accurate analysis, you will never be left in the dark and you can concentrate more on the actual trading and making profits. Check out our 14 day Trial to sample everything we have to offer.

 

Back to homepage

Leave a comment

Leave a comment