EUR/JPY keeps pushing higher towards the expected wave A target at 123.21, from where a corrective decline in wave B towards at least 120.00 is expected. The corrective decline in wave B can push lower towards 119.01, but time will show.
Keep looking higher for a test of 123.21 against minor support at 122.31, as a break below this minor support will indicate that wave A is complete and wave B is taking over.
R3: 123.72
R2: 123.31
R1: 123.21
Pivot: 123.00
S1: 122.55
S2: 122.31
S3: 122.07
Trading recommendation:
We will sell EUR at 123.00 or upon a break below 122.31.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Wave summary:
EUR/JPY keeps pushing higher towards the expected wave A target at 123.21, from where a corrective decline in wave B towards at least 120.00 is expected. The corrective decline in wave B can push lower towards 119.01, but time will show.
Keep looking higher for a test of 123.21 against minor support at 122.31, as a break below this minor support will indicate that wave A is complete and wave B is taking over.
R3: 123.72
R2: 123.31
R1: 123.21
Pivot: 123.00
S1: 122.55
S2: 122.31
S3: 122.07
Trading recommendation:
We will sell EUR at 123.00 or upon a break below 122.31.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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