Expecting the final zigzag. EUR/JPY wave analysis.

Analysis for September 19^th, 2014

In our previous review, “Dynamic triangle. Wave analysis of EUR/JPY for 11.09.2014”, we discussed a possible scenario how the price may continue forming an ascending zigzag(d) of [iv].



Possibly, the market has completed an ascending zigzag(d) of [iv]. Right now, the price is starting the final descending zigzag(e) of [iv], after which the uptrend may continue inside wave [v].



Our mid-term expectations haven’t changed so far. The current chart structure implies that the pair is finishing a long horizontal correction [iv] of C of (C), which may be followed by the final ascending wave [v] of C. One of the main waves of triangle patterns is usually the longest and most complicated, so possibly the third zigzag(c) of [iv] may turn out just this type of wave

However, at the same time one should remember that any possible scenario is subjective and the market may move in a completely different direction.

RoboForex Analytical Department