Elliott Wave Ananlysis of EUR/JPY for July 13, 2017

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Wave summary:

After topping at 130.77 a nice decline towards 125.82 is being seen. Minor resistance is now seen at 129.66, which we expect will be able to cap the upside for the expected decline towards 125.82.

Trading recommendation:

We sold EUR at 129.85 and will lower our stop to 129.70. If you are not short EUR yet, then sell here and use the same stop.

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