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Elliott Wave Ananlysis of EUR/JPY for July 19, 2017

Posted On 19 Jul 2017
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Wave summary:

We are still looking for a deeper correction in wave iv closer to 126.38 before the next rally higher in wave v will take over for a rally towards 133.46.

Short-term resistance is seen at 129.57 which ideally will be able to cap the upside for the decline towards 126.38.

Trading recommendation:

We are short EUR from 129.85 with stop placed at 129.70 and take-profit at 126.50.

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

Source:: Elliott Wave Ananlysis of EUR/JPY for July 19, 2017

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