EUR/JPY Elliott Wave Analysis: Bullish Against 123.6

Elliottwave Forecast
By EWFHendra of Elliottwave Forecast
ElliotWave Forecast •

EUR/JPY shows 5 swing sequence from 6/15 low (122.35). While near-term dips stay above 123.62, expect the pair to extend higher.

Short term EUR/JPY Elliott Wave view suggests the decline to 122.35 on 6/15 low ended Intermediate wave (X). Rally from there is unfolding as a double three Elliott Wave structure where Minute wave ((w)) ended at 124.46 and Minute wave ((x)) ended at 123.62. Minute wave ((y)) is in progress and also unfolding as a double three. Near term focus is on 125.42 – 125.68 to complete Minutte wave (w) of ((y)). Afterwards, the pair should pullback in Minutte wave (x) of ((y)) in 3, 7, or 11 swing before turning higher again, provided pivot at 123.6 low stays intact. We don’t like selling the pair.

EURJPY 1 Hour Elliott Wave Chart

 

(Click on image to enlarge)

EURJPY 1 Hour June 27

 

 

YM (DJI Futures) Elliott Wave Analysis

 

Disclosure:

None.

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