InstaForex - Analytics

    InstaForex

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    Elliott wave analysis of EUR/JPY for April 1 - 2016 2016-04-01

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    Wave summary

    We are still looking for the final leg higher towards 128.91 to terminate wave iv and set the stage for the decline in wave v towards the ideal long term target at 117.38.

    Short term support at 126.94 should support the downside for the rally to 128.91.

    Trading recommendation:

    We are long in EUR from 127.35 and will move our stop higher to 126.90. Take profit reverse will be placed at 128.75.


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