• 258 days Will The ECB Continue To Hike Rates?
  • 258 days Forbes: Aramco Remains Largest Company In The Middle East
  • 260 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 660 days Could Crypto Overtake Traditional Investment?
  • 665 days Americans Still Quitting Jobs At Record Pace
  • 667 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 670 days Is The Dollar Too Strong?
  • 670 days Big Tech Disappoints Investors on Earnings Calls
  • 671 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 673 days China Is Quietly Trying To Distance Itself From Russia
  • 673 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 677 days Crypto Investors Won Big In 2021
  • 677 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 678 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 680 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 681 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 684 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 685 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 685 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 687 days Are NFTs About To Take Over Gaming?
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