Over 900pips Opportunity on EURJPY

May 31, 2018

EURJPY weekly outlook shows that the drop from 137.500 after a complete CRAB pattern is the 4th wave of the elliot wave pattern. According to elliot wave rule, wave 4 should be 23.6, 38.2, 50.0 fib of wave 3 and wave 4 should never enter into the territory of wave 1. Looking at 4hours timeframe, a BULLISH CRAB formation confirmed the end of the 4th wave. A close look at the chart also shows that price is likely to form a 5waves counts to complete the 5th wave which will automatically give a complete SHARK pattern. I am bullish on EURJPY to 136.500 - 140.000 region