Euro / Japanese YenShort
EURJPY - SELL IDEA
Looking at the EUR/JPY 30-minute chart, it's clear that the pair is in a corrective phase following a significant five-wave decline. This suggests a continued bearish outlook, with potential to reach lower levels as the correction progresses.
The immediate target to watch is the completion of wave (c), potentially reaching down to the 159.720 level. This area coincides with prior support and the projected move based on the Elliott Wave pattern.
Entering a short position here could be strategic, aiming to capitalize on the downside momentum as EUR/JPY seeks to fulfill the wave (c) target.
The immediate target to watch is the completion of wave (c), potentially reaching down to the 159.720 level. This area coincides with prior support and the projected move based on the Elliott Wave pattern.
Entering a short position here could be strategic, aiming to capitalize on the downside momentum as EUR/JPY seeks to fulfill the wave (c) target.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.