Elliott wave analysis of EUR/JPY for April 26, 2018
April 26, 2018 6:23 am
Wave B likely peaked with the test of 133.49, but we need a break below minor support at 132.59 to confirm this is the case and that wave C below 128.97 is developing. That said, we need to allow for a final spike to just above 133.49 as long as support at 132.59 stays untouched. but a spike like that should be short-lived.
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 our stop placed at 133.85.
The material has been provided by InstaForex Company – www.instaforex.com
Wave B likely peaked with the test of 133.49, but we need a break below minor support at 132.59 to confirm this is the case and that wave C below 128.97 is developing. That said, we need to allow for a final spike to just above 133.49 as long as support at 132.59 stays untouched. but a spike like that should be short-lived.
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 our stop placed at 133.85.
The material has been provided by InstaForex Company – www.instaforex.com
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