farid_ardavani
Long

EURJPY Long term outlook; its about to start the trend?

FX:EURJPY   Euro Fx/Japanese Yen
weekly view of EURJPY            
it seems that zigzag type of correction has been ended.
now price is on 50% of retracement fib and 127.2% of fib ext.
break out of the black trend line is an indication of an impulsive move to upside.
note the divergence.
but keep all possible scenarios in mind; this zigzag can be just wave A of a bigger correction pattern like WXY or WXYXZ.
Comment:
snapshot

240 min view
Comment: purple scenario is more likely to happen, because its not move impulsive and it seems that developing as double zigzag
snapshot
Comment: here is 2 different labeling on EURJPY; both suggest that the downtrend corrective phase is about to end...
snapshot
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