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Elliott Wave Analysis of EUR/JPY for April 14 - 2016
Wave summary:
No change in view here.
We continue to look for a downside thrust out of the triangle for a decline towards 120.98 to end red wave iii and set the stage for a correction rally in red wave iv to the 123.55 - 123.85 area before going lower again in red wave v towards 117.38 to terminate the long-term correction from 149.96.
Trading recommendation:
We are short in EUR from 123.76 and we will move our stop slightly lower to 123.90.
The material has been provided by InstaForex Company - www.instaforex.com
