EUR/JPY continues to move lower towards the next minor downside target at 128.96.
Short-term resistance is now seen at 130.63, which will ideally protect the upside for a continuation lower to 128.96 on the way towards the ideal wave C of (E) target at 124.94.
Once this C wave decline completes, it will also complete the huge triangle consolidation that has been unfolding since July 2008.
R3: 130.81
R2: 130.63
R1: 130.25
Pivot: 129.87
S1: 129.52
S2: 128.96
S3: 128.31
Trading recommendation:
Sell EUR near 130.63 with stop placed at 131.25.
The material has been provided by InstaForex Company – www.instaforex.com
EUR/JPY continues to move lower towards the next minor downside target at 128.96.
Short-term resistance is now seen at 130.63, which will ideally protect the upside for a continuation lower to 128.96 on the way towards the ideal wave C of (E) target at 124.94.
Once this C wave decline completes, it will also complete the huge triangle consolidation that has been unfolding since July 2008.
R3: 130.81
R2: 130.63
R1: 130.25
Pivot: 129.87
S1: 129.52
S2: 128.96
S3: 128.31
Trading recommendation:
Sell EUR near 130.63 with stop placed at 131.25.
The material has been provided by InstaForex Company – www.instaforex.com
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