Elliott wave analysis of EUR/JPY for February 17, 2021
February 17, 2021 1:20 pm
EUR/JPY is likely to continue to move higher towards the next minor upside target at 129.06 and ultimately towards 133.35 and above. In the short-term, we see support at 127.62 with key-support at 127.24, which may protect the downside for the expected rise higher towards 129.06 and above.
R3: 129.06
R2: 128.75
R1: 128.48
Pivot: 128.00
S1: 127.62
S2: 127.24
S3: 127.05
Trading recommendation:
We are long EUR from 125.85 and we will move our stop higher to 126.85
The material has been provided by InstaForex Company – www.instaforex.com
EUR/JPY is likely to continue to move higher towards the next minor upside target at 129.06 and ultimately towards 133.35 and above. In the short-term, we see support at 127.62 with key-support at 127.24, which may protect the downside for the expected rise higher towards 129.06 and above.
R3: 129.06
R2: 128.75
R1: 128.48
Pivot: 128.00
S1: 127.62
S2: 127.24
S3: 127.05
Trading recommendation:
We are long EUR from 125.85 and we will move our stop higher to 126.85
The material has been provided by InstaForex Company – www.instaforex.com
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