Elliott wave analysis of EUR/JPY for June 29, 2023
June 29, 2023 7:22 am
EUR/JPY has now tested and slightly broken above the 157.43 target. We will be looking for signs of a top developing and a break below minor support at 156.72 will be the first good indication that EUR/JPY has topped out and a larger correction is unfolding, while a break below support at 155.74 will confirm the top and that a correction towards 135.96 is in motion.
EUR/JPY has clearly done better than we originally expected, but no trees grow into the skies and if they do it will not last long…
The material has been provided by InstaForex Company – www.instaforex.com
EUR/JPY has now tested and slightly broken above the 157.43 target. We will be looking for signs of a top developing and a break below minor support at 156.72 will be the first good indication that EUR/JPY has topped out and a larger correction is unfolding, while a break below support at 155.74 will confirm the top and that a correction towards 135.96 is in motion.
EUR/JPY has clearly done better than we originally expected, but no trees grow into the skies and if they do it will not last long…
The material has been provided by InstaForex Company – www.instaforex.com
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