Elliott Wave Ananlysis of EUR/JPY for July 26, 2017
July 26, 2017 4:16 am
Wave summary:
EUR/JPY has failed to break lower towards 127.22, which indicates that wave v higher towards the ideal 133.46 target already is developing. Support is now seen at 129.22 and should be able to protect the downside for a break above resistance at 130.77 confirming that wave v is unfolding.
Trading recommendation:
Our stop+reverse at 129.75 was hit for a small profit and reversal to long EUR. Our stop will be placed at 129.15.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Wave summary:
EUR/JPY has failed to break lower towards 127.22, which indicates that wave v higher towards the ideal 133.46 target already is developing. Support is now seen at 129.22 and should be able to protect the downside for a break above resistance at 130.77 confirming that wave v is unfolding.
Trading recommendation:
Our stop+reverse at 129.75 was hit for a small profit and reversal to long EUR. Our stop will be placed at 129.15.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
Related Posts: