Elliott Wave Ananlysis of EUR/JPY for July 25, 2017
July 25, 2017 6:03 am
Wave summary:
As long as minor resistance at 129.70 is able to cap the upside, we will continue to look for a deeper decline in wave c of iv closer to 127.22. Once this target has been tested or upon a direct break above minor resistance at 129.70 the final rally higher towards 133.46 should be seen to complete the rally from 115.09.
Trading recommendation:
We are short EUR from 129.88 and will move our stop + reverse lower to 129.75. Take-profit + reverse will be placed at 127.50.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Wave summary:
As long as minor resistance at 129.70 is able to cap the upside, we will continue to look for a deeper decline in wave c of iv closer to 127.22. Once this target has been tested or upon a direct break above minor resistance at 129.70 the final rally higher towards 133.46 should be seen to complete the rally from 115.09.
Trading recommendation:
We are short EUR from 129.88 and will move our stop + reverse lower to 129.75. Take-profit + reverse will be placed at 127.50.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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