EURJPY At Resistance - Elliott wave Analysis
Hi traders,
EURJPY made a five-wave drop from the highs, which we labelled as wave 1 as part of a new bearish cycle so more weakness will occur, but only after a pullback into wave 2 fully shows up. This pullback can unfold a simple A)-B)-C) correction, which can look for resistance and a bearish reversal near the 129.23/130.27 area. That said, a drop in minor five-waves will later indicate more weakness.
EURJPY made a five-wave drop from the highs, which we labelled as wave 1 as part of a new bearish cycle so more weakness will occur, but only after a pullback into wave 2 fully shows up. This pullback can unfold a simple A)-B)-C) correction, which can look for resistance and a bearish reversal near the 129.23/130.27 area. That said, a drop in minor five-waves will later indicate more weakness.
👉wavetraders.com/elliott-wave-plans/
Learn Elliott Waves
👉 wavetraders.com/academy/
Newsletter Sign up
👉 bit.ly/3FVPVzO
Learn Elliott Waves
👉 wavetraders.com/academy/
Newsletter Sign up
👉 bit.ly/3FVPVzO
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.