Elliott Wave Analysis: EURJPY, Temporary Bounce In View


EURJPY is at new lows making an impulse down from 128.21 that is expected to unfold then as a five wave structure. At the moment we see price in final wave down of wave 3 so bounce should come up into wave 4, maybe even back to 125.70-126.00 area that can be very attractive zone to join the downtrend.

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Gregor Horvat first made his name in Slovenia and has become world famous in the forex market since 2003. He is both a trader and a technical analyst who offers trading strategies on the Fibonacci and Elliot Wave principle. His main focus is on currency pairs, U.S. stock market, gold and oil. Gregor Horvat found the forex service offered on http://www.ew-forecast.com/. This website provides traders technical analysis, while putting emphasis on behavioral patterns. These are derived from the Elliott Wave Principle (EWP). Traders who are interested in the entry and exit positions, and he probability of the former and latter follow the EWP on a regular basis.