Elliott wave analysis of EUR/JPY for April 23, 2018
April 23, 2018 7:21 am
EUR/JPY has failed to rally into the 133.54 – 133.68 area and is already testing short-term important support at 132.08. If this support is broken, then we can say wave B has completed and wave C of (E) lower to at least 124.94 should be expected.
As long as support at 132.08 is able to protect the downside we could see a final spike higher, but time is clearly running out for this outcome.
R3: 132.98
R2: 132.64
R1: 132.45
Pivot: 132.06
S1: 131.75
S2: 131.35
S3: 130.83
Trading recommendation:
We will sell a break below 132.08.
The material has been provided by InstaForex Company – www.instaforex.com
EUR/JPY has failed to rally into the 133.54 – 133.68 area and is already testing short-term important support at 132.08. If this support is broken, then we can say wave B has completed and wave C of (E) lower to at least 124.94 should be expected.
As long as support at 132.08 is able to protect the downside we could see a final spike higher, but time is clearly running out for this outcome.
R3: 132.98
R2: 132.64
R1: 132.45
Pivot: 132.06
S1: 131.75
S2: 131.35
S3: 130.83
Trading recommendation:
We will sell a break below 132.08.
The material has been provided by InstaForex Company – www.instaforex.com
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