Elliott Wave Analysis: EUR/JPY Could Be Ready For Take Off

On the 4h chart of EUR/JPY we see price unfolding a bigger, simple three-wave retracement within wave B/2 down from February highs that can be looking for support at the lower trendline support. In fact, wave c is already in five waves, so bounce may not be far away, but for a bullish reversal, we definitely need rise above 125.20 to make sure that low is in.

EUR/JPY, 4 Hour

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