FX.co ★ Elliott wave analysis of EUR/JPY for June 25 - 2015

Technical summary:

The support line at 126.05 has protected the downside and we continue to look for a break above minor resistance at 139.17 and more importantly above resistance at 140.63 confirming a continuation higher to 144.03.

Only a break below support 136.96 will make us reconsider the entire count from 126.05.

Trading recommendation:

We are long EUR from 138.64 with stop placed at 137.90. If you are not long EUR yet, then buy on a break above 139.17 and use the same stop at 137.90.