Ending of a triangle. EUR/JPY wave analysis.

Analysis for October 15^th, 2014

In our previous review, “Completion of a triangle. Wave analysis of EUR/JPY for 03.10.2014”, we discussed a possible scenario how the price may finish horizontal triangle[iv] of C of (C).



Our mid-term expectations haven’t changed so far. The current chart structure implies that the pair may be finishing a long horizontal correction [iv] of C of (C). After this completing it, the price is expected to form the final ascending wave [v] of C.



Possibly, the market is completing a descending wave (e) of [iv] in the form of triple zigzag near level of ~135. If this assumption is correct, then later the market may start forming the final wave [v]. Otherwise, wave (e) of [iv] may take a more complicated form.

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