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EUR/JPY Bounces From 138.00/50

Published 02/13/2014, 09:25 AM
Updated 07/09/2023, 06:31 AM
EUR/JPY
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Yen crosses are rallying nicely for the last few days since the S&P500 has turned up last week. We can see very tight correlation between these two markets where structures on both suggests more upside. For FX traders, EURJPY will definitely be interesting for longs as pair rallied in five waves from the lows. However, patient traders will wait on pullbacks before they may look to get involved on the bullish side. Ideal scenario would be a three wave set-back to 138.10-138.90 area before market turns up for wave C.


EUR/JPY 4h Elliott Wave Analysis
<span class=EUR/JPY Elliott wave" title="EUR/JPY Elliott wave" height="541" width="569">

Full details in our video below!

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