FX.co ★ Elliott wave analysis of EUR/JPY for March 10, 2017

Wave summary:

EUR/JPY continues to higher toward the next upside target seen at 122.90 on the way higher to 124.20 and possibly even closer to 125.53 before wave 3 is complete. Short-term, we will ideally see minor support at 121.89 being able to protect the downside for the continuation higher to 122.90 and above.

R3: 122.90

R2: 122.53

R1: 122.25

Pivot: 122.00

S1: 121.89

S2: 121.75

S3: 121.25

Trading recommendation:

WE are long EUR from 119.86 and will move our stop higher to 121.20. If you are not long EUR yet, then buy near 121.89 and use the same stop.