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Elliott wave analysis of EUR/JPY for May 25, 2021

analytics60ac782096b32.jpg

We continue to look for the final spike higher to the S/H/S target at 133.66 to complete not only the S/H/S target, but also wave 3/ and set the stage for a correction into the 129.05 - 130.81 corrective target-zone. Once the correction in wave 4/ is complete more upside pressure is expected to above the peak of wave 3/ near 133.66.

Trading recommendation:

It's time to take profit on long-positions and wait to re-buy EUR in the 129.05 - 130.80 corrective target-zone

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