EURJPY Wave Analysis - Big drop ahead
EURJPY finally showed its hand with the last daily close. Price formed a sell signal after stalling around the recent high.
This last wave can be counted as a wave B and we should now see a impulsive wave C to the downside.
In my opinion wave 1 is finished and some kind of sideways correction could take place.
This would be some kind of flag/wedge pattern and soon break to the downside.
Wave 3 should start pretty soon and target for the whole C wave is under 120, so +200 pips can be made.
This last wave can be counted as a wave B and we should now see a impulsive wave C to the downside.
In my opinion wave 1 is finished and some kind of sideways correction could take place.
This would be some kind of flag/wedge pattern and soon break to the downside.
Wave 3 should start pretty soon and target for the whole C wave is under 120, so +200 pips can be made.
Note
Higher TF
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Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.