EUR/JPY Elliott Wave Binary Options Analysis – 04 March 2014

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.

HIGH or CALL Binary Options hence have a higher probability of success (ending at 20-21:00 GMT), entry prices being carefully considered on the 1-Hour & 4-Hour timeframe before execution.

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:

EURJPY - Primary Analysis - Mar-04 1338 PM (6 hour)

EURJPY – Primary Analysis – Mar-04 1338 PM (6 hour)

 

 

 

 

 

 

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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