Elliott wave analysis of EUR/JPY for March 19, 2019


We remain bullish expecting EUR/JPY to continue higher towards 127.50 as the next target. Only a break below support at 126.00 will delay the expected rally for a dip closer to 125.69 before the next rally higher.

Only an unexpected break below key support at 125.43 will question our bullish outlook.

R3: 126.93

R2: 126.57

R1: 126.25

Pivot: 126.08

S1: 126.00

S2: 125.69

S3: 125,43

Trading recommendation:

We are long EUR from 124.80 and will will raise our stop to 125.65.

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