Wave Analysis from InstaForex

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    Kiaria Yoshida

    Elliott wave analysis of EUR/JPY for March 10, 2017

    Wave summary:
    EUR/JPY continues to higher toward the next upside target seen at 122.90 on the way higher to 124.20 and possibly even closer to 125.53 before wave 3 is complete. Short-term, we will ideally see minor support at 121.89 being able to protect the downside for the continuation higher to 122.90 and above.

    R3: 122.90
    R2: 122.53
    R1: 122.25
    Pivot: 122.00
    S1: 121.89
    S2: 121.75
    S3: 121.25

    Trading recommendation: WE are long EUR from 119.86 and will move our stop higher to 121.20. If you are not long EUR yet, then buy near 121.89 and use the same stop.

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