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19.09.201707:13 Forex Analysis & Reviews: Elliott Wave Analysis of EUR/JPY for September 19, 2017

Long-term review

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Wave summary:

EUR/JPY continues to work its way higher to the 134.80 target. In the short term, minor support at 132.61 should be able to protect the downside for the expected rally to 134.80, from where a correction should be expected before the final rally towards 137.36 to complete wave D.

R3: 134.80

R2: 134.25

R1: 133.85

Pivot: 133.50

S1: 133.12

S2: 132.94

S3: 132.61

Trading recommendation:

We are long EUR from 131.76 we will move our stop higher to 132.55. We will take half profit at 134.50.

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