EURJPY Wave Analysis

EURJPY is like all the YEN pairs at an interesting point. Follow me to receive future updates with detailed Elliott wave analysis.


EURJPY made higher highs and higher lows over the last months and weeks and formed a 5-waved motive wave
After this significant move to the upside we got a ABC correction, which is a bigger wave A
At the moment we are at the end of the bigger Wave B, which is a flat, or slightly extended flat correction

The next push will be wave C to the downside
The turquoise rectangle represents the weekly mother bar, have a look at the picture below


I expect Wave C to make a fake breakout to the downside out of the rectangle. After this market should continue to strive for new highs.

https://www.tradingview.com/x/JjQOOxau/