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Elliott Wave Analysis of EUR/JPY for March 29 - 2016
Wave summary:
Resistance at 127.27 must protect the upside, otherwise more upside pressure towards 128.90 will be expected in a more complex double zig-zag correction from the 122.06 low.
If resistance at 127.27 is able to protect the upside for a break below support at 126.59, the above count still stands and calls for renewed downside pressure towards 124.64 and below for downside acceleration towards 122.06 and lower to 117.37.
Trading recommendation:
Sell EUR here at 127.09 with stop+reverse at 127.35.
The material has been provided by InstaForex Company - www.instaforex.com
