Trader, analyst and instructor with a 6-year experience

EUR/JPY: weekly wave analysis

By Roman Petuchov

Weekly. The market is developping a global bullish zigzag. Impulse [a] has already been built. The market is currently forming a bearish correction for this impulse - wave [b] takes a form of a double tripple. 

Daily. Waves (w) and (x) have already been finished. The pair is now forming wave (y) - it might also become a zigzag. Let's review the last part in details. 

H4. According to our last week's forecast, the price finished the bearish corrective wave [b]. The market is currently growing in the bullish impulse [c]. More growth on the coming week is expected to come.

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