Elliott wave analysis of EUR/JPY for June 30 – 2015

2015-06-30-EURJPY-4H.png

Technical summary:

Minor resistance at 138.68 is still held firmly so the risk remains for more downside pressure towards important support near 133.07, but it will take a break below this level to turn the picture bearish. To remove the downside pressure a break above minor resistance at 138.68 is needed and it will call for a move higher to 141.06 and 144.03.

Trading recommendation:

We will stay neutral for now as the picture is a bit unclear.

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

Tags: