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08.08.202207:08 Forex Analysis & Reviews: Elliott wave analysis of EUR/JPY for August 8, 2022

Exchange Rates 08.08.2022 analysis

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.

*这里的市场分析是为了增加您对市场的了解,而不是给出交易的指示。

Torben Melsted,
Analytical expert of InstaSpot
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