EUR/JPY can be trading in the middle of a three wave correction, after the previous five wave decline found a base near the 128.40 region. Current sideways correction can now be an A-B-C in the making, with price trading at the start of wave C. Ideally wave C will search for resistance around the Fibonacci ratio of 50/61.8, from where a new reversal lower may take place.
Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our work is for educational purposes only.
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