$EUR/JPY Short Term Elliott Wave Update 6.24.2015

Rally to 141.05 completed wave (W). Current revised short term Elliott Wave view suggests wave (X) pullback is unfolding in a double corrective structure W-X-Y. Wave W took the form of a FLAT structure A-B-C where wave A ended at 139.03, wave B ended at 141.03, and wave C of W completed at 137.94.

Wave X bounce from 137.94 was in a double corrective structure ((w))-((x))-((y)) where wave ((w)) ended at 140, wave ((x)) ended at 138.24, and wave ((y)) of X completed at 140.67.  Wave Y of (X) is currently in progress towards 136.86 – 137.7. We don’t like selling the proposed pullback. From 136.86 – 137.7 area, expect the pair to resume either to new high or at minimum 3 waves bounce to correct the decline from 141.05 per Elliott Wave hedging idea.

EURJPY 6020150623123929

At EWF we offer  24 hour coverage of 42 instruments from Monday – Friday using Elliott Wave Theory as primary tools of analysis. We provide Elliott Wave chart in 4 different time frames, up to 4 times a day update in 1 hour chart, two live sessions by our expert analysts, 24 hour chat room moderated by our expert analysts, market overview, and much more! With our expert team at your side to provide you with all the timely and accurate analysis, you will never be left in the dark and you can concentrate more on the actual trading and making profits. We are currently running 50% off July 4th promotion.


Subscribe to our Forex Blog

First Name: *
Last Name: *
Your Email Address: *