? EUR/JPY Massive Consolidation Zone Could Finally Break ?

2 min read

Hi traders,

The EUR/JPY corrective pattern remains intact and the sideways zone has become very lengthy. A push below the support line (green) is needed to confirm the breakout but whether price will finally be able to make a break remains open.

EUR/JPY

4 hour


The EUR/JPY seems to have completed a bullish ABC (orange) zigzag within wave 4 (green). The current price swings could fit within a potential wave 1-2 (orange) but the wave pattern remains vulnerable to changes.

Daily


The EUR/JPY consolidation zone remains a tricky pattern. A bearish breakout could confirm the expected bearish wave C (blue) and complete the larger bearish correction within wave 4 (pink) at the Fibonacci retracement levels.

For more daily wave analysis and updates, sign-up up to our ecs.LIVE channel.
Good trading,
Chris Svorcik
Elite CurrenSea

Leave a Reply

avatar

This site uses Akismet to reduce spam. Learn how your comment data is processed.

  Subscribe  
Notify of

🍿️ Discover your path to a 100% yearly returns over the convos with Chris Svorcik!

X