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    Elliott wave analysis of EUR/JPY for October 20, 2015

    2015-10-20-EURJPY-4H.png

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    Wave summary:

    We are getting nowhere at the moment. We are still firmly locked inside the triangle pattern, looking for clues about when a thrust of the triangle should be imminent. The first clue would be a break below minor support of 134.36 with a call for a test of important support at 133.11. It will confirm an expected downside thrust and decline below 126.05 in the longer term.

    That said, we will have consider a possible upside breakout, which will be confirmed by a break above 137.44.

    Trading recommendation:

    We continue to look for a selling opportunity at 135.95 or upon a break below minor support at 134.91.


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