Hi fellows. If you are following me on this pair since last couple of weeks then you know that this pair is setting up for a big bearish wave. EURJPY is forming top and showing us a nice price action at the top last week price action was pretty good that is what we are looking for in our weekly market outlook if you have attended the weekly market then you should be in short from the top of the fall. If you are not in from top than no need to worry just watch for the Trend continuation pattern on lower time frame and look for sell. If i will see the Trend continuation pattern i will update the chart. I am not anticipating further upside on this pair. In case if price violate the impulse and forms new high we will look for sell from new high again. Dont miss the fall on this pair. If you remember the NZDUSD then i am sure you will not miss this big wave. Trade with care and use only that mush risk which you can afford to lose.
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When i say potential is to the downside that means potential to the down side dont buy then. so watch for the correction before any short.
I like your analysis. It is simple and clean. Not like many other authors out there which have too cluttered charts and you don't understand what they mean.
Wave-Trader
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@gocuwidy, agree mate and thanks for your feedback