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26.07.201706:16 Forex Analysis & Reviews: Elliott Wave Ananlysis of EUR/JPY for July 26, 2017

Long-term review

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Wave summary:

EUR/JPY has failed to break lower towards 127.22, which indicates that wave v higher towards the ideal 133.46 target already is developing. Support is now seen at 129.22 and should be able to protect the downside for a break above resistance at 130.77 confirming that wave v is unfolding.

Trading recommendation:

Our stop+reverse at 129.75 was hit for a small profit and reversal to long EUR. Our stop will be placed at 129.15.

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