Elliott wave analysis of EUR/JPY for April 25, 2018
April 25, 2018 6:21 am
EUR/JPY rallied into the 133.54 – 133.68 area after all. Wave B should now be complete and wave C lower should soon take over for a decline to below 128.92 as wave C of (E) moves closer to at least 124.94.
In the short-term, a break below minor support at 132.59 will be the first good indication that the wave B has completed and the wave C is developing.
R3: 133.68
R2: 133.48
R1: 133.28
Pivot: 132.59
S1: 132.07
S2: 131.75
S3: 131.35
Trading recommendation:
We are short EUR from 132.85 with stop placed at 133.85.
The material has been provided by InstaForex Company – www.instaforex.com
EUR/JPY rallied into the 133.54 – 133.68 area after all. Wave B should now be complete and wave C lower should soon take over for a decline to below 128.92 as wave C of (E) moves closer to at least 124.94.
In the short-term, a break below minor support at 132.59 will be the first good indication that the wave B has completed and the wave C is developing.
R3: 133.68
R2: 133.48
R1: 133.28
Pivot: 132.59
S1: 132.07
S2: 131.75
S3: 131.35
Trading recommendation:
We are short EUR from 132.85 with stop placed at 133.85.
The material has been provided by InstaForex Company – www.instaforex.com
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