Elliott wave analysis of EUR/JPY for July 30, 2018
July 30, 2018 4:21 am
EUR/JPY remains lock inside the descending channel towards the 128.55 – 128.98 target area. Once this area is tested red wave ii is expected to complete and a new impulsive rally in red wave iii should take over for a rally towards 135.74.
Short-term resistance is seen at 129.65 and again at 130.28. A break above the later will be a strong indication that red wave ii has completed and that red wave iii is developing.
R3: 130.28
R2: 130.03
R1: 126.65
Pivot: 129.35
S1: 129.09
S2: 128.98
S3: 128.55
Trading recommendation:
We will buy EUR at 128.60 or upon a break above 130.28.
The material has been provided by InstaForex Company – www.instaforex.com
EUR/JPY remains lock inside the descending channel towards the 128.55 – 128.98 target area. Once this area is tested red wave ii is expected to complete and a new impulsive rally in red wave iii should take over for a rally towards 135.74.
Short-term resistance is seen at 129.65 and again at 130.28. A break above the later will be a strong indication that red wave ii has completed and that red wave iii is developing.
R3: 130.28
R2: 130.03
R1: 126.65
Pivot: 129.35
S1: 129.09
S2: 128.98
S3: 128.55
Trading recommendation:
We will buy EUR at 128.60 or upon a break above 130.28.
The material has been provided by InstaForex Company – www.instaforex.com
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