Elliott wave analysis of EUR/JPY for April 12, 2019

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EUR/JPY has clearly broken above resistance at 125.45 confirming renewed upside pressure towards 127.50 and 129.25 as the next targets on the way higher to 132.48.

Support is now seen at 125.66 which should be able to protect the downside for the continuation higher to 127.00 and 127.50.

R3: 127.50

R2: 127.00

R1: 126.45

Pivot: 126.17

S1: 125.66

S2: 125.22

S3: 124.76

Trading recommendation:

We are long EUR from 125.65 with our stop placed at 125.25

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

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