Tue, May 18, 2021 @ 10:25 GMT
Home Contributors Technical Analysis EUR/JPY Builds Bearish ABC Correction In Wave 2

EUR/JPY Builds Bearish ABC Correction In Wave 2

EUR/JPY seems to be building a bearish pullback towards the Fibonacci retracement levels of wave 2 (pink). A break below the 100% Fibonacci level of wave 2 vs 1 (pink) would invalidate the wave 2 (pink) pattern.

EUR/JPY seems to be completing a bearish ABC (purple) corrective pattern back to the Fibonacci levels of wave 2 (pink). A bullish reversal could take place at one of these Fibonacci levels as long as price stays above the support zone (blue box).

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