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Elliott Wave Ananlysis of EUR/JPY for July 24, 2017

Posted On 24 Jul 2017
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Wave summary:

Our preferred count remains, that wave iv still is in progress and a final decline towards 127.22 is needed to complete wave c of iv and set the stage for the final rally higher in wave v towards 133.46.

Only a direct break above resistance at 130.77 will indicate that wave iv already is complete and wave v is developing.

Trading recommendation:

We are short EUR from 129.88 with stop+revers at 130.80. Take profit is placed at 127.50

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

Source:: Elliott Wave Ananlysis of EUR/JPY for July 24, 2017

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