FX:EURJPY   Euro Fx/Japanese Yen
87 0 2
I'm looking for a strong bullish move for the EURJPY             which should complete a daily ABC pattern with wave B currently close to its end.
Although we saw a strong bullish momentum for the Euro             after the last ECB press conference, the continuation lower is rather strong.
Therefore I took a closer look at the possibility of a last new low to complete wave B.
In terms of Elliott Wave a pattern of 7 with many overlaps is likely corrective (count in RED). This might indicate a new low for wave C (green) of wave B of larger degree (black).
For harmonic traders this can be seen as a harmonic BAT pattern which is a common reversal pattern at long term levels.
A break out of the upper trend line (Blue) most likely indicates that wave C is already in progress. The lower time frames will give the first clue which in that case I will update as it becomes relevant.

www.faceb00k.c0m/wwwtimstuytscom/
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out