📊 EUR/JPY Elliott Wave Analysis Update 🌊📈

Hello, TradingView community! 👋 Here’s my latest analysis on EUR/JPY, focusing on a potential buy opportunity.

We've seen some interesting movements recently. After a steep decline, we are observing the formation of an impulse wave that suggests bullish momentum. 🚀 The chart has been labeled from (1) to (5) showing the ongoing development of these waves.

We are currently in the early stages of wave (5), and I'm projecting potential target levels at Fibonacci extensions 0.618 (165.867), 1 (166.170), and 1.618 (166.659). 🎯 These levels could act as key points for taking profits depending on how the market responds.

I recommend keeping a close eye on these extensions for possible exits or further buys as the price could bounce significantly if the momentum continues. 💹

Don't forget to manage your risks and set appropriate stop-loss orders to safeguard your trades. 🛑

🔍 Stay tuned for more updates and happy trading! 💸

Trade closed: target reached