Elliott wave analysis of EUR/JPY for March 6, 2019

Only a break below key-support at 125.98 will invalidate our bullish outlook.

R3: 126.92

R2: 126.75

R1: 126.55

Pivot: 126.35

S1. 126.15

S2: 125.98

S3: 125.68

Trading recommendation:

We remain long EUR from 124.65 with our stop placed at 125.75. If you are not long EUR yet, then buy a break above minor resistance at 126.55 and use the same stop at 125.75.

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