Elliott Wave Ananlysis of EUR/JPY for July 14, 2017

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Wave summary:

We continue to look for a deeper correction closer to support near 125.82 before the next rally higher should be expected.

Short-term, we are looking for minor resistance at 129.66 to be able to protect the upside for the next decline towards 125.82.

Trading recommendation:

We are short EUR from 129.85 with a stop placed at 129.70. If you are not short EUR yet, then sell near 129.65 and use the same stop. Take profit at 126.10.

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