Elliott Wave Analysis: EURJPY Intraday View

Gregor Horvat Wavetraders

EURJPY is turning down for the last two weeks what we believe it's going to be a corrective three wave move. We are tracking a zigzag pattern in wave 2 which can be in late stages, but there is still room for a drop down to 120.50 where support can be found this week, at lower Fib levels. We are waiting on a bounce in small five waves that can be very constructive for further bullish price action.

EURJPY, 1H

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Author

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

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