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Forex Analysis & Reviews: Elliott wave analysis of EUR/JPY for August 8, 2022
time 08.08.2022 07:08 AM
time Relevance up to, 09.08.2022 07:08 AM

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EUR/JPY has tested the first corrective target at 132.66 and we think more downside pressure is needed to complete the correction in wave 2/. We will likely see EUR/JPY move closer to the resistance line currently near 140.85 before renewed downside pressure towards the 50% corrective target seen at 131.69. This next decline should complete the corrective phase of wave 2/ and set up the next impulsive rally towards 149.80.

Torben Melsted,
Analytical expert of InstaForex
© 2007-2022
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