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EURJPY Divergence And Elliot Wave Suggests Coming Reversal


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May 15 2015

EURJPY is bullish for the last two months but this could come to an end in coming days or weeks, because we can count five waves up on the 4h chart. Besides that we also see a decreasing bullish momentum on the RSI, while the price can be forming a wedge pattern in fifth wave. This refers as an ending diagonal in Elliot Wave Theory which can cause bearish turning point, possibly from around 137.

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