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

EURJPY Elliott Wave View: Starting The Next Leg Higher

June 14, 2018 By Hassan Sheikh

EURJPY short-term Elliott wave view suggests that the rally from 5/29 low (124.59) to 6/07 high (130.276) ended intermediate wave (1). The internals of that rally higher unfolded as Impulse Elliott Wave structure where subdivision of Minor 1, 3 and 5 unfolded also as an impulse in lesser degree. Down from there, the pair made a 3 waves pullback in Intermediate wave (2) as a Zigzag correction.

The internal of Intermediate wave (2) unfolded as zigzag structure where Minor A ended at 129.25, Minor wave B ended at 129.73 and Minor wave C of (2) ended at 128.056 low. Up from there, the rally is taking place as another impulse structure in Intermediate wave (3) higher. The pair has already made a marginal new high above 130.26 peak, confirming the next leg higher. This marginal high has created a bullish sequence from 5/29 low. Near-term, while dips remain above 128.05 low, expect pair to see more upside towards 131.55 – 132.37, 0.618-0.764% Fibonacci extension area of Intermediate wave (1)-(2) at first. Afterwards, it should pullback and extend higher again towards 133.73 – 135.03, 100%-123.6% Fibonacci extension area of (1)-(2) at later stage. We don’t like selling the pair and expect intraday traders to appear in 3, 7 or 11 swings against 128.05 low.

EURJPY 1 Hour Elliott Wave Chart

Elliott Wave Analysis: EURJPY Has a Bearish Sequence

May 25, 2018 By Hassan Sheikh

EURJPY short-term Elliott Wave view suggests that the bounce to 5/14 high at 131.38 ended wave (2). Down from there, the decline is unfolding as Elliott wave impulsive structure as expected and should complete wave (3). The internal sub-division of each leg lower is showing 5 waves structure in lesser degree cycles, which is characteristic of an an impulse. Also, it’s important to note here that the below chart is showing a bearish sequence tag, which refers to the incomplete downward structure in the pair.

Wave 1 of (3) completed at 129.49, wave 2 of (3) completed at 131.35, dip to 128.22 was wave 3 of (3) and small bounce to 129.06 was wave 4 of (3). Pair has already made new lows in wave 5 of (3) and should ideally completed wave (3) between 127.10 – 126.08. Then, we should expect a bounce in wave (4) to correct the decline from 131.38 high before turns lower again in wave (5) towards 125.19 – 123.21 area. We don’t like buying the pair and as pair has a bearish sequence tag in attached 1 hour chart, we expect to see sellers appearing in wave (4) bounce in the sequence of 3, 7 or 11 swings.

EURJPY Elliott Wave 1 Hour Chart

EURJPY : Will Bears Push the Pair Lower?

May 16, 2018 By EWF Aidan

EURJPY Technical Analysis 5.16.2018

EURJPY Possible SELL/SHORT Trade Setup: EURJPY on the 1 hour chart is breaking out of a possible bearish channel pattern and a Momentum Price Action Breakout Pattern can be forming where bears can potentially push the pair lower. Traders should be watching to see a retest and also watch to see if price respects the 50 Simple Moving Average (Turquoise). If EURJPY respects the moving average and is then followed by a move below the green SELL level (130.43) it will allow more bears to sell off the pair triggering the Momentum Price Action Breakout Pattern (Green) and confirming the bearish channel pattern breakout (Blue). If looking to sell EURJPY, sell on the break below 130.43 looking to hit targets below and traders should place stop loss at the May 14/2018 high 131.37 level. Break above the May 14/2018 high will invalidate the bearish scenarios and the pair can extend higher. But as long as the 131.37 level holds and price remains below it then bears will remain in control.

EURJPY 1 Hour Chart May 15/2018

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 ***

At Elliottwave-Forecast we cover 76 instruments (Forex, Commodities, Indices, Stocks and ETFs) in 4 different timeframes and we offer 5 Live Session Webinars everyday. We do Daily Technical Videos, Elliott Wave Trade Setup Videos and we have a 24 Chat Room. Our clients are always in the loop for the next market move.

Try Elliottwave-Forecast for 14 days FREE !!! Just click here –> 14 day FREE trial

EUR JPY Elliott Wave Trading Strategy

July 20, 2017 By EWF Vlada

The video below is a short capture from the London Live Session held on June 6th . Daud presented EUR JPY Elliott Wave count and explained the trading strategy.

EUR JPY Trading strategy

As our members know, we were keep saying that EURJPY is having incomplete bullish swings sequences in the cycle from the 06/24 low. It has been the clearest structure among JPY pairs at that time. Because of bullish swings sequences we advised our members to avoid selling the pair and keep buying the dips in 3,7,11 swings. As Daud explained in the video, we were waiting for pull back to potentially make a double three correction towards toward 122.49-121.85 area before buying the pair.

The day after,on June 7th we got proposed leg lower but without reaching entry zone. We switch our short term count and labeled the pull back as Elliott Wave Flat structure ( count is presented in the video). The pair resume sideways for a next few days and eventually gave us another leg down as expected, reaching our entry zone : 122.49-121.85. EURJPY found buyers there, and as a result made nice rally making new high on June 27th. As of right now trades are approximately 650 pips in profit and risk free.

Keep in mind market is dynamic. If you’re interested in the future path of EURJPY or in any of the other 50+ instruments we cover, join us now. You can find Elliott Wave analysis in the membership area of EWF. If not a member yet, Sign Up for Free Trial now

Elliott Wave Forecast

Through time we have developed a very respectable trading strategy. It defines Entry, Stop Loss and Take Profit levels with high accuracy and allows you to make position Risk Free, shortly after taking it, protecting your account. If you want to learn all about it and become a professional Trader, join us now for Free.

You will get access to Professional Elliott Wave analysis in 4 different time frames. 3 live Analysis Session done by our Expert Analysts every day. 24 Hour Chat Room support, Market Overview, Weekly technical videos and much more.