? EUR/JPY Bullish Momentum Indicates Potential Wave 3 Pattern ?

2 min read

Hi traders,

The EUR/JPY is showing strong bullish momentum after bouncing at the 50-61.8% Fibonacci support zone and breaking above a key resistance trend line.

EUR/JPY

Week


The bullish bounce could confirm the completion of a wave 4 (pink) corrective pattern and the start of the bullish wave 5 pattern.

Day


The EUR/JPY seems to have built a wave 1-2 and could now be in an impulsive wave 3 (purple) if price manages to break above the resistance zone (red lines).

4 hour


The EUR/JPY is showing a bullish impulse as price is moving and breaking away from the moving averages, which is creating a bullish channel.

Good trading,
Chris Svorcik
Elite CurrenSea

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