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EURJPY : Intraday View

FX:EURJPY   Euro Fx/Japanese Yen
On the intraday structure of EURJPY             we are tracking a nice bearish run from 128.173 area, that seems to be in late stages, as only wave 5 is needed for a completed five wave pattern. That said correction in wave 4 seems to be over as price made a nice move towards lower levels and could ideally continue even lower to around 124 area, where the distance of red wave 1 would equal the distance of red wave 5.
After wave 5 is completed, we may face a minimum of a three wave correction.
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what will be invalidation level for this 5th wave?
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ew-forecast PRO BlackPipper
Invalidation is at 125, where wave 4 occured.
+1 Reply
tq for the forecast..
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wave 5 seems completed..and correction in place....is this pair goin furher south after correction?
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Still have further downside
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Looks like price continued further to the downside... making wave five extended.
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