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Elliott wave analysis of EUR/JPY for March 16 - 2015

2015-03-16-EURJPY-4H.png


Technical summary:


The expected decline towards the ideal target at 125.98 continues to unfold. Short-term support is found at 126.51 in a minor reaction to 128.32 before going lower to 125.98. As we approach the ideal downside target 125.98, we should begin to look for signs of a bottom.


Trading recommendation:


We are short EUR from 133.90 and have lower our stop to 129.10 with take profit at 126.25.


The material has been provided by InstaForex Company - www.instaforex.com