Currency Analyst since 2010

EUR/JPY: weekly wave analysis

Authored by Roman Petuchov

Weekly. Following a strong bullish trend [a] we've seen a beginning of a global correction [b]. This wave is expected to take a form of a double tripple. 


Daily. Corrective wave (x) is almost finished, after that we expect a new descending wave (y) to develop. Let's review the correction (x) in details. 


H4. Wave (x) took a form of a wave plain A-B-C that seems to be completely finished. There is a high chance for a new descending trend to be born. We maintain a bearish view on the cross. 

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