EUR/JPY: wave analysis
Weekly. The market generates global and sweeping Zigzags. At the moment, we see the development of the upward Zigzag, the wave [a] of which is completely built. EUR/JPY has already begun corrective decline in the wave [b].
Daily. Wave [b] is a double Triple (w) - (x) - (y). The plane wave (w) is complete. At the moment, we see the growth of the price in a correctional wave bundle (x).
H4. Wave (w) ended with the formation of the final diagonal triangle. In the coming days we expect the pair to rise in the second part of the Zigzag (x) – impulse C of (x).