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    Elliott wave analysis of EUR/JPY for July 9, 2015

    2015-07-09-EURJPY-4H.png

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    Technical summary:

    Important support at 133.07 is still holding firm keeping us cautiously bullish for a breakout above minor resistance at 134.57 and more important above resistance at 135.43 calling for a continuation to 138.14 and above.

    Only a breakout below important support at 133.07 could indicate a corrective nature of the rally from 126.05 and call for a new test of this low.

    Trading recommendation:

    We will buy EUR here at 134.07 and place a stop revers at 133.00.


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