16.10.201806:46 Forex Analysis & Reviews: Elliott wave analysis of EUR/JPY for October, 2018

Long-term review

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EUR/JPY has seen a low at 129.12 and we are now looking for a break above minor resistance at 129.80 and more importantly a break above short-term important resistance at 130.51. It will confirm that blue wave (2) has completed and blue wave (3) towards 138.10 is developing.

Support is now seen at 129.34 and then at 129.12.

R3: 130.85

R2: 130.51

R1: 130.05

Pivot: 129.80

S1: 129.34

S2: 129.12

S3: 128.99

Trading recommendation:

We will buy EUR at 129.10 or upon a break above 129.80.

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