Trader, analyst and instructor with a 6-year experience

EUR/JPY: weekly wave analysis

Roman Petuchov

Weekly. Wave [a] (part of global bullish zigzag) is now being built. After completion of the wave [a] the market will enter a long-term corrective wave [b].

Daily. Strong impulse growth has begun right after the horizontal correction (IV) was built. Let's see the wave (V) of [a] in the details.

H4. After a short-term bounce to the previous high a bullish impulse III will be over. The market will begin a horizontal corrective wave IV. However, it's unlikely to be very deep. 

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