Elliott wave analysis of EUR/JPY for April 22, 2021


EUR/JPY failed to break clearly above resistance at 130.67 but the fact that it tried indicates that we only should look for a dip to support at 129.57 or maybe slightly below before the next rally higher. This time we should expect key-resistance at 130.67 to be broken for the next impulsive rally towards 132.16 and 133.12.

Trading recommendation:

Buy EUR near 129.57 or upon a break above 130.67

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