• 9 hours Fighting For Survival In The Streaming War
  • 1 day Want A Job? Forget About A Bachelor’s Degree
  • 2 days Another Major Car Maker Is Backing Hydrogen
  • 2 days Are Americans Finally Sold On Soccer?
  • 3 days Is The Tech Bubble About To Burst?
  • 3 days Coronavirus Could Cost Tourism Industry $80 Billion
  • 3 days What Web Traffic Trends Can Tell Us About The World
  • 4 days Miners Face Greater Headwinds
  • 4 days Boris Johnson Proposes Billion Dollar Bridge To Northern Ireland
  • 6 days Goldman Slashes Oil Price Forecast By $10
  • 7 days Tesla Raises $2 Billion In Share Selloff
  • 7 days What The T-Mobile Takeover Of Sprint Really Means For Markets
  • 7 days The U.S. Has Charged Huawei With Racketeering And Conspiracy
  • 8 days How Hydrogen Could Become The Fuel Of The Future
  • 8 days Millennials Can’t Retire, But They’ll Still Have To Help Their Parents
  • 9 days This Gold Miner Just Increased Its Dividends By 40%
  • 9 days Airbnb IPO Under Threat As China's Economy Drags
  • 9 days The Infamous Equifax Hack Just Became A National Security Issue
  • 10 days BHP Takes The Crown As World’s Top Copper Miner
  • 10 days Tesla Reopens Chinese Factory After Coronavirus Scare
What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

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

Short Term EURJPY Elliott Wave

Short Term EURJPY Elliott Wave view suggests the rally from 4/16 low is unfolding as a double three Elliott Wave structure. Up from 4/16 (114.8) low, Intermediate wave (W) ended at 125.81 and Intermediate wave (X) is proposed complete at 122.53. A break above 125.81 however is still needed to add conviction that the next leg higher has started.

From 122.53 low, the rally is also unfolding as a double three Elliott Wave structure. Minute wave ((w)) ended at 125.8 and Minute wave ((x)) ended is proposed complete at 123.11. Rally from there is unfolding as a double three where Minutte wave (w) ended at 125.31 and Minutte wave (x) pullback has reached 100% in 3 swing from 6/2 high. Thus while pair stays above 123.11, and more importantly above 122.53, expect pair to extend higher or at least bounce in 3 waves. If pair breaks below 123.11, then pair is likely doing a double correction from 5/16 peak. This suggests pair can open extension lower to 121.6 – 122.25 area in case of a double correction. From this area, buyers should appear again for an extension higher or at least a 3 waves bounce.

EURJPY 1 Hour Elliott Wave Chart

Back to homepage

Leave a comment

Leave a comment