EURJPY
As I wrote yeasterday, price went at the beggining of the day higher than it closed on Friday.
I did put a tick on the chart when I thought the price would stop rising and begin a retrace. Nevertheless, EJ went even higher and made another strong bullish wave. In fact, it didn't change my previous scenario:
on hourly chart I see 5-wave bullish trend has finished and the time has come for a significant retrace, not just for the last up-move.
It seems for me that the price has already made 3 waves in its downturn, they are i-ii-iii subwaves of the upcoming bearish 1 of 3.
*I'm not really eager in my mid-term analysis, because it takes some time to be proved or failed. I will be pleased to see your view on EJ.*
Speaking about the upcoming trading, I'm selling in order to catch the 5th wave. Right now - the price is still retracing (u can see it on 5min tf). I suggest the price will go down ~119.6
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