Elliott wave analysis of EUR/JPY for April 23, 2019


Resistance at 126.80 has held firm, but the correction from here should only prove to be temporary and will ideally stay above support at 125.45 for a breakout above minor resistance at 126.10 and, more importantly, a breakout above resistance at 126.80 that yields a continuation of the upward movement towards 127.50 and 129.30 as the next upside targets.

Only an unexpected breakout below support at 144.90 will shift the bias towards the downside.

R3: 127.50

R2: 126.80

R1: 126.10

Pivot: 125.60

S1: 125.45

S2: 125.20

S3: 124.77

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

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