EUR/JPY Archives - Page 4 of 7 - Elliott Wave Forecast

Elliott Wave View: EURJPY Has Resumed Lower

April 3, 2020 By EWFHendra

Short term Elliott Wave view in EURJPY suggests the decline from January 14, 2020 high is unfolding as a 5 waves impulse structure. Down from Jan 14 high, wave (1) ended at 116.13 and wave (2) bounce ended at 121.15. Pair is proposed to have resumed lower in wave (3), although pair still needs to break below wave (1) at 116.13 to validate the view.

Down from wave (2) high a 121.17, wave ((i)) ended at 118.77 as 5 waves and wave ((ii)) bounce ended at 120.34. Wave ((iii)) remains in progress as 5 waves with extension. Wave (i) of ((iii)) ended at 118.77, and wave (ii) of ((iii)) ended at 119.7. Pair extended lower in wave (iii) of ((iii)) towards 116.31, and wave (iv) of ((iii)) ended at 117.49.

Near term, expect pair to extend lower in wave (v) of ((iii)). Afterwards, it should bounce in wave ((iv)) before the final leg lower in wave ((v)) of 1. As far as the rally fails below 121.17, expect pair to extend lower. Potential target lower is 100% – 123.5% Fibonacci extension from January 14, 2020 high which comes at 112.71 – 114.32.

EURJPY 1 Hour Elliott Wave Chart

EURJPY Elliott Wave Video

EURJPY Incomplete Bearish Sequences Calling The Decline

March 9, 2020 By EWF Vlada

In this technical blog we’re going to take a quick look at the Elliott Wave charts of EURJPY, published in members area of the website. As our members know, recently we were calling the decline in EUJPY due to incomplete bearish sequences the pair has in the cycle from the 01/16 peak. We expected the pair to resume trading lower and eventually to retest 09.03.2019 low. Consequently, we advised members to avoid buying the pair and keep on favoring the short side in short term. In further text we’re going to explain Elliott Wave Forecast.

EURJPY 1 Hour Elliott Wave Analysis 03.02.2020

Break of the 02/18 low made the cycle from the January 16th peak incomplete, calling for further decline in the pair. The pair is bearish against the 121.3996 pivot. We got 5 swings down from the mentioned peak which is also good sings for the bears. Currently the pair is correcting cycle from the mentioned peak, when bounce is unfolding as Elliott Wave Zig Zag. We still can get another minor swing up to complete 5 waves in (c) leg. Anyway, as far as the price holds below 121.3996 high more weakness is expected in the pair once bounce completes. As invalidation level is not so far away, trading can be risky . We don’t recommend buying the pair and favor the short side.

You can learn more about Elliott Wave Zig Zag Patterns at our Free Elliott Wave Educational Web Page.

EURJPY 1 Hour Elliott Wave Analysis 03.02.2020

We got minor swing up as expected and pair completed wave ((b)) recovery as Elliott Wave Zig Zag. We got nice separation from the last short term high, however need to see break below 02/28 low – ((a)) black, to confirm next leg down is in progress.

EURJPY 1 Hour Elliott Wave Analysis 03.09.2020

Eventually the pair has broken 02/28 low. Decline from the last high can be unfolding as impulsive structure, when now ending short term wave (iv) blue recovery.

Keep in mind market is dynamic and presented view could have changed in the mean time. Best instruments to trade are those having incomplete bullish or bearish swings sequences. We put them in Sequence Report and best among them are shown in the Live Trading Room.

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EURJPY : Trading the Breakout Lower

January 26, 2020 By EWF Aidan

EURJPY Technical Analysis

EURJPY : Using trading filters/confirmations is key to determine and to signal a trader on which side to trade the market. Trading filters/confirmations are strategies used to analyze the market. A trader should never trade off one strategy and should always combine strategies together to get a better read of the market. Trading filters/confirmations allows a trader to trade only what “they” see and to trade with the momentum of the market.

EURJPY 1 Hour Chart 1.24.2020 : (Confirmation 1) Price breaks the purple Higher High/Higher Low sequence and commences the orange Lower Low/Lower High sequence signalling a possible reversal in trend. (Confirmation 2) Indicator crossed below the 200 EMA signalling a trader to only look for possible selling opportunities. (Confirmation 3) After the first Lower Low registered bearish divergence formed signalling a trader to look for selling opportunities. (Confirmation 4) Price respects the 50 EMA confirming the 1st momentum breakout SELL entry (green) and respects the 50 EMA again confirming the 2nd momentum breakout SELL entry (pink). Both SELL entries hits 1:1 RR Target. (Confirmation 5) Continuation of trend bearish divergence forms on the last lower high (orange LH) which produces another move lower and also respects the 50 EMA signalling the move lower is still active. Expecting price to continue lower and HIT 1:2 RR Targets.

Of course, like any strategy/technique, there will be times when the strategy/technique fails so proper money/risk management should always be used on every trade. Hope you enjoyed this article and follow me on Twitter for updates and questions> @AidanFX or chat me on Skype > EWF Aidan Chan

*** Always use proper risk/money management according to your account size ***

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EURJPY Forecasting The Rally From The Blue Box Area

December 31, 2019 By EWF Hardianto

In this blog, we’re going to take a quick look at the Elliott Wave charts of EURJPY pair. EURJPY ended short term cycle in wave ((iii)) as 5 waves rally from 11.14.2019 low at 117.05 to 12.13.2019 high at 122.66. Then, the pair pulled back to correct the cycle up from 11.14.2019 low in 3 waves to 121.44 low. Afterwards, it bounced to reach 122.46 high, which did not break the previous high of wave ((iii)) at 122.66. The failure to break the previous high resulted in a turn lower for the pair. The break of wave (w) low at 121.44 means that the pair is doing a double three correction. The 100% extension for the correction is between 120.43-121.21 and was highlighted with a blue box. The blue box area is the area where we expect buyers to appear for an extension higher or 3 waves bounce at least.

EURJPY 12.20.2019 1 Hour Asia Elliott Wave Update

EURJPY 12.26.2019 1 Hour London Elliott Wave Update

In the chart above from 12.26.2019 update, the pair reached the blue box area and ended wave ((iv)) pullback at 121.03 low. From there, the pair got a nice reaction and rallied higher. This allow members who bought from the blue box area a risk free position.

EURJPY 12.30.2019 1 Hour London Elliott Wave Update

Latest 1-hour chart update shows that wave (i) remains in progress. The pair can extend higher to complete wave v of (i). Afterwards, the pair should do a pullback in 3,7,11 swings before resuming to the upside as long as 121.03 pivot level stays intact.

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Elliott Wave View: EURJPY Has Resumed Lower

September 26, 2019 By EWFHendra

After forming a low on September 3, 2019 at 115.8, EURJPY has rallied in 3 waves. The rally ended at 120.62 and we labelled this bounce as wave 4. As the structure of the rally from September 3, 2019 low is in 3 waves, this tells us that the rally is only a correction. The pair has since turned lower again and likely has started wave 5 as the chart below shows. However, the pair still needs to break below 115.8 to confirm this view and avoid a double correction.

The internal of wave 5 is unfolding as a 5 waves impulse Elliott Wave structure. Down from 120.62, wave (i) ended at 118.66 and wave (ii) bounce ended at 119.82. Pair then resumed lower in wave (iii) towards 117.72 and wave ((iv)) bounce ended at 118.56. Expect pair to do 1 more leg lower in wave (v) before ending cycle from September 14 high (120.62). The 5 waves move lower will also end wave ((i)) in larger degree. Afterwards, wave ((ii)) bounce is expected to correct cycle from September 14 in 3, 7, or 11 swing before pair resumes lower again. As far as pivot at 120.62 high stays intact, bounce should fail and pair should resume lower.

EURJPY 1 Hour Elliott Wave Chart

EURJPY 1 Hour Elliott Wave Video

Elliott Wave View: EURJPY Remains Under Pressure

September 3, 2019 By EWFHendra

EURJPY shows an impulsive Elliott Wave structure from July 1, 2019 high (123.36). On the chart below, wave ((iii)) of that impulse ended at 116.5 and wave ((iv)) bounce ended at 118.2. The internal of wave (iv) unfolded as a zigzag structure. Wave (a) ended at 117.77, wave (b) ended at 117.18, and wave (c) of ((iv)) ended at 118.19. Pair has resumed lower in wave ((v)) with the internal unfolding as an impulse Elliott Wave structure of lesser degree.

Down from 118.2, wave i ended at 117.05, wave ii bounce ended at 117.94, wave iii ended at 116.35, and wave iv bounce ended at 116.7. Wave v is expected to end soon and pair should complete wave (i) of ((v)) in higher degree. Pair should then bounce in wave (ii) to correct cycle from August 26 high (118.2) before the decline resumes. We don’t like buying the proposed bounce and expect bounce to fail in 3, 7, or 11 swing as far as pivot at 118.2 high stays intact.