FX.co ★ EUR/JPY may form bearish wolfe waves pattern

EUR/JPY has already broken out and closed above the daily bearish level at 119.98. It is trying to form a market maker buy model pattern. However, the pair is unlikely to grow and it is showing its weakness by forming a bearish wolfe waves pattern. Unless this pair breaks out and closes above the 122.84, it will decrease to the EPA line (from point 1 to 4) as its prime target.

The overall bias for EUR/JPY is bearish.

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