EURJPY making correction

FX:EURJPY   Euro / Japanese Yen
my elliot wave analysis shows that the price seems to complete the formation of 5 wave cycle and is finding its completion on its wave 4 before its continue moving down to move for wave 5.

there are divergence on the macd and the oversold condition on the rsi which make my desicion to wait for the correction end before proceeding with the entry sell.

the trend channel shows that the price is in downtrend movement. i will look for the opportunity to go short for this pair.

find some indication of candlestick at the resistance level area 133.500. the target profit will be on the area of 130.300 of the support area .

good luck!!

this idea was published for the purpose of study only. all the risk taking are at your own responsibility.


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