Elliott Wave Ananlysis of EUR/JPY for July 21, 2017
July 21, 2017 10:33 am
Wave summary:
The corrective structure has shifted in favor of a flat correction. Short-term, we expecte resistance at 130.77 will be able to cap the upside for a final leg lower to support at 127.22 to complete the flat correction in wave iv and then move higher towards 133.46 in wave v.
Trading recommendation:
Our stop at 129.70 was hit for a small profit of only 10 pips. We will sell EUR here at 129.88 with stop+revers at 130.80 and take profit placed at 127.50.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Wave summary:
The corrective structure has shifted in favor of a flat correction. Short-term, we expecte resistance at 130.77 will be able to cap the upside for a final leg lower to support at 127.22 to complete the flat correction in wave iv and then move higher towards 133.46 in wave v.
Trading recommendation:
Our stop at 129.70 was hit for a small profit of only 10 pips. We will sell EUR here at 129.88 with stop+revers at 130.80 and take profit placed at 127.50.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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