Elliott Wave Analysis: EURJPY Could Face A Reversal Near 115/115.50 Zone

Gregor Horvat Wavetraders

EURJPY is pushing prices higher following a bounce from 113.67 where pair found a support in wave B); at the other side of a trading channel after a break higher a few days back. We see a nice continuation up on the intraday cycle, but it's probably wave C) of E which means that upside can be limited soon. Nice technical resistance area is at 115.00-115.50 where we will track price action closely for evidence of a bearish turn.

EURJPY, 1H

Author

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

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