EURJPY and GBPJPY Both Completing Their Correction; More Weakness Ahead

Gregor Horvat Wavetraders

Hi traders,

EURJPY can see more weakness while pair trades below 128.47 level, as we see current bounce as fourth wave correction that already reached resistance level around 127.00, so new leg down can be coming soon.

EURJPY, 1h

GBPJPY can be just like EURJPY slowly turning to the downside, with a possibly completed three-wave rally within recent corrective wave iv. We see new intra-day drop from the 142.46 level that can be final wave v and can in hours ahead aim below the 140.32 bearish level and towards the 138.37 region.

GBPJPY, 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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