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30.04.201806:33 Forex Analysis & Reviews: Elliott wave analysis of EUR/JPY for April 30 - 2018

Long-term review

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We expect minor resistance near 132.51 to be able to cap the upside for a new stab lower towards the ideal target near 131.46 to complete wave i of C. In the short term, a break below minor support at 132.19 will confirm that wave iv/ has completed and wave v/ of i lower to 131.46 is developing.

R3: 132.84

R2: 132.69

R1: 132.51

Pivot: 132.19

S1: 132.03

S2: 131.85

S3: 131.46

Trading recommendation:

We are short EUR from 132.85 with stop at breakeven. We will take half profit at 131.55.

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