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The bigger picture for Binary Options in EUR/JPY appears to be CONFIRMED Bullish, with long-term targets in the 143.90 – 147.20 price area.
EUR/JPY appears to have just completed a Minor Wave 2 of a bigger Wave 3 Impulse. Wave 2’s likely termination point appears to be the 50.0% retracement of Wave 1, which coincides with the 161.8% projection of Wave C around the 138.90 price area.
The chart below illustrates EUR/JPY’s current decline in Wave 2, followed by a powerful resumption of the Bullish Trend – It is very likely that Minor Wave C is complete, having already retraced 161.8% of Minor Wave A.
Click The Binary Options Elliott Wave Chart Below To Expand:
Should EUR/JPY continue to rise, it will be a reasonably impulsive powerful rise as Wave 3 almost always have a powerful course – Binary Options traders will stand to make better decisions when pursuing the price in this current uptrend.
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