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Elliott Forecast

Eric Morera

Elliott Wave View: EURJPY Should Continue to Find Support

June 8, 2022 By

EURJPY shows an incomplete bullish sequence from March 2022 low favoring further upside. The 100% – 161.8% Fibonacci extension from March 2022 low can see pair reaching 148.3 – 158 level in the medium term. Short term Elliott Wave view in the pair suggests rally from May 12, 2022 low is unfolding as a . Up from 5/12, wave 1 ended at 136.69 and pullback in wave 2 ended at 133.89. Wave 3 is expected to end soon with internal subdivision as another impulse in lesser degree.

Up from wave 2, wave ((i)) ended at 136.8 and pullback in wave ((ii)) ended at 134.95. Pair then resumes higher in wave ((iii)) towards 140.31, and pullback in wave ((iv)) ended at 139.81. Expect wave ((v)) to end soon which should also complete wave 3 in higher degree. Afterwards, pair should pullback in wave 4 before 1 more push higher in wave 5. Wave 4 usually is around 23.6 – 38.2% Fibonacci retracement of wave 3 once wave 3 level has been confirmed. As far as pivot at 133.89 low stays intact, expect any short term dips to find support in 3, 7, or 11 swing for further upside.

EURJPY 60 Minutes Elliott Wave Chart

EURJPY Elliott Wave Video

Source:-forecast.com/news/elliott-wave-view-eurjpy-continue-find-support/

#elliottwave #trading #eurjpy

08/06/2022 1 EN

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Elliottwave-Forecast.com (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to thousands of clients. ElliottWave-Forecast has built a reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, Cycles, Proprietary Pivot System, we provide precise forecasts with up-to-date analysis for 52 instruments including FX majors, Gold, Silver, Copper, Oil, TNX and major Equity Indices. Our clients also have immediate access to our proprietary Actionable Trade Setups, Market Overview, 1 Hour, 4 Hour, Daily & Weekly Wave Counts. Weekend Webinar, Live Screen Sharing Sessions, Daily Technical Videos, Educational Resources, and 24 Hour chat room where they are provided live updates and given answers to their questions.

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