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Elliott wave analysis of EUR/JPY for July 27, 2017

Posted On 27 Jul 2017
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Wave summary:

We continue to look for a break above minor resistance at 130.77 to confirm the next part of the rally higher towards the ideal 133.34 target.

Short-term minor support is seen at 129.90 which is expected to be able to protect the downside for the break above 130.77. It will, however, only be a break below support at 129.22 that will delay the expected rally higher.

Trading recommendation:

We are long EUR from 129.75 with stop placed at 129.15.

The material has been provided by InstaForex Company – www.instaforex.com

Source:: Elliott wave analysis of EUR/JPY for July 27, 2017

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