02.09.201515:04 Forex Analysis & Reviews: Elliott wave analysis of EUR/JPY for September 2 - 2015

Long-term review

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Technical summary:

We continue looking for more upside as long as important support at 133.27 stays intact, but the short-term picture has become messy after the break below minor support at 135.23. The possible reason could be that a triangle is developing, but it is too early to tell.

In the short term, a break above minor resistance at 136.24 will be needed to ease immediate downside pressure.

Trading recommendation:

Stay neutral for now.

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