The EUR/JPY Elliott Wave analysis for the week of April 25th shows a long-term bullish trend. The weekly chart indicates a super cycle degree impulse wave pattern that started in June 2016. We are currently in wave ((III)) of the super cycle degree, with wave (III) of the super cycle degree also in progress. The long-term outlook favors the upside.
Looking at the daily chart as of April 25th, we are in wave III of (III) with wave ((5)) of III still ascending. Opportunities to buy pullbacks have been identified within wave (1) of ((5)) since December 2023.
On April 13th, the four-hour chart predicted an upward move in wave 5 of (1), which was successfully realized as the price hit 162.24.
The latest four-hour chart from April 26th shows EURJPY’s progression from 162.24 with an impulse. The wave count has been adjusted to align with current price action, remaining consistent to the upside. Opportunities to buy on pullbacks within the extreme zone are still being sought.
Overall, the bullish trend remains intact across all time frames, with a strategy to focus on LONG opportunities and providing daily updates and trade opportunities to members.