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

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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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