FX.co ★ Elliott wave analysis of EUR/JPY for November 29, 2017

Wave summary:

We continue to look for a break below short-term important support at 131.14 confirming that wave (D) has completed and wave (E) lower to the ideal downside target at 123.43 is developing.

Short-term resistance is seen at 132.41 and again at 132.55 that should be able to cap the upside for a break below 131.70 towards 131.14.

R3: 133.24

R2: 132.55

R1: 132.41

Pivot: 131.70

S1: 131.14

S2: 130.55

S3: 129.86

Trading recommendation:

We sold EUR at 132.55 and has placed our stop at 133.35.