Elliott wave analysis of EUR/JPY for April 8, 2019

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EUR/JPY remains stuck in a narrow range. We continue to favor the downside for a break below support at 124.95 that confirms more downside pressure towards 123.65 and ideally closer to 120.95 longer-term.

R3: 126.18

R2: 125.75

R1: 125.43

Pivot: 124.94

S1: 124.45

S2: 124.17

S3: 123.65

Trading recommendation:

We are short EUR from 124.25 with our stop placed at 126.20

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

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