In this technical article we’re going to take a quick look at the Elliott Wave charts of EURJPY, published in members area of the website. As many of you already know, we’ve been leaning towards long positions in YEN pairs. EURJPY recently pulled back in a 3-wave pattern, with buyers stepping in right at the equal legs zone. Let’s break down our Elliott Wave forecast further in this article.
EUR/JPY four-hour weekend update 04.13.2024
The current view suggests that the EURJPY pair is undergoing a 4 red pullback, which is correcting the cycle from the 160.229 low. This pullback appears to be forming an Elliott Wave Flat pattern. Notably, the price has already reached the extreme zone within the range of 162.397-160.685. We anticipate potential buyer activity in this area, which could lead to a further rally towards new highs, or at the very least, trigger a three-wave bounce.
EUR/JPY four-hour update 04.16.2024
EURJPY has shown a favorable response from the Equal Legs-Buyers zone, as anticipated. We consider the wave 4 red pullback completed at the 162.2428 low. Confirmation of the next leg up will come with a break of the 3 red peak. We advise against selling the pair during any suggested pullback and favor the long side.
FURTHER DISCLOSURES AND DISCLAIMER CONCERNING RISK, RESPONSIBILITY AND LIABILITY Trading in the Foreign Exchange market is a challenging opportunity where above average returns are available for educated and experienced investors who are willing to take above average risk. However, before deciding to participate in Foreign Exchange (FX) trading, you should carefully consider your investment objectives, level of xperience and risk appetite. Do not invest or trade capital you cannot afford to lose. EME PROCESSING AND CONSULTING, LLC, THEIR REPRESENTATIVES, AND ANYONE WORKING FOR OR WITHIN WWW.ELLIOTTWAVE- FORECAST.COM is not responsible for any loss from any form of distributed advice, signal, analysis, or content. Again, we fully DISCLOSE to the Subscriber base that the Service as a whole, the individual Parties, Representatives, or owners shall not be liable to any and all Subscribers for any losses or damages as a result of any action taken by the Subscriber from any trade idea or signal posted on the website(s) distributed through any form of social-media, email, the website, and/or any other electronic, written, verbal, or future form of communication . All analysis, trading signals, trading recommendations, all charts, communicated interpretations of the wave counts, and all content from any media form produced by www.Elliottwave-forecast.com and/or the Representatives are solely the opinions and best efforts of the respective author(s). In general Forex instruments are highly leveraged, and traders can lose some or all of their initial margin funds. All content provided by www.Elliottwave-forecast.com is expressed in good faith and is intended to help Subscribers succeed in the marketplace, but it is never guaranteed. There is no “holy grail” to trading or forecasting the market and we are wrong sometimes like everyone else. Please understand and accept the risk involved when making any trading and/or investment decision. UNDERSTAND that all the content we provide is protected through copyright of EME PROCESSING AND CONSULTING, LLC. It is illegal to disseminate in any form of communication any part or all of our proprietary information without specific authorization. UNDERSTAND that you also agree to not allow persons that are not PAID SUBSCRIBERS to view any of the content not released publicly. IF YOU ARE FOUND TO BE IN VIOLATION OF THESE RESTRICTIONS you or your firm (as the Subscriber) will be charged fully with no discount for one year subscription to our Premium Plus Plan at $1,799.88 for EACH person or firm who received any of our content illegally through the respected intermediary’s (Subscriber in violation of terms) channel(s) of communication.
Recommended Content
Editors’ Picks

EUR/USD deflates to three-day lows around 1.1130
The euro remains under heavy pressure on Friday, with EUR/USD retreating toward the 1.1130 level to hit new three-day troughs. Despite a weaker reading in the U-Mich index in May, the US Dollar found support as inflation expectations ticked higher.

GBP/USD slips back to 1.3250 on USD-buying
GBP/USD recedes to the mid-1.3200s on Friday session, as the Greenback regains ground against the broadeer risk-linked universe. Supporting the upside in the US Dollar comes a rise in US consumer inflation expectations, according to the latest data from the U-Mich survey.

Gold looks depressed below $3,200
Gold reversed course on Friday, falling sharply below the $3,200 mark after Thursday’s strong rally. The retreat came as a resurgent US Dollar and easing geopolitical tensions weighed on demand for the safe-haven metal. Furthermore, XAU/USD remained under pressure and is on track to log its biggest weekly loss of the year.

Is Ethereum's comeback real?
Ethereum price hovers above $2,500 on Friday after soaring nearly 100% since early April's bottom. The ETH Pectra upgrade has boosted over 11,000 EIP-7702 authorizations in a week, indicating healthy uptake by wallets and dApps.

Trump’s Middle East dealmaking blitz: What does it mean for investors?
President Donald Trump’s May 2025 Middle East visit has unleashed a flurry of mega-deals, aimed at deepening U.S. trade ties, correcting trade imbalances, and reinforcing America’s leadership in defense and technology exports.