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Elliott wave analysis of EUR/JPY for November 29, 2017

Posted On 29 Nov 2017
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Wave summary:

We continue to look for a break below short-term important support at 131.14 confirming that wave (D) has completed and wave (E) lower to the ideal downside target at 123.43 is developing.

Short-term resistance is seen at 132.41 and again at 132.55 that should be able to cap the upside for a break below 131.70 towards 131.14.

R3: 133.24

R2: 132.55

R1: 132.41

Pivot: 131.70

S1: 131.14

S2: 130.55

S3: 129.86

Trading recommendation:

We sold EUR at 132.55 and has placed our stop at 133.35.

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

Source:: Elliott wave analysis of EUR/JPY for November 29, 2017

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