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Elliott wave analysis of EUR/JPY for August 24 - 2015


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Technical summary:

We have seen a low at 138.06 and should now see more upside towards 139.41 and maybe even higher to 141.06. Now we expect minor support at 138.45 to be able to protect the downside for the rally higher to 139.41, but only a break below support at 138.06 will indicate a more prolonged consolidation unfolding.

Trading recommendation:

We are long EUR from 137.45 and we will move our stop higher to 138.40. Take profit is still at 139.35

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