FX.co ★ Elliott Wave Ananlysis of EUR/JPY for July 20, 2017

Wave summary:

No change in view here except that for a possible downside target. As the sideways consolidation in wave b drags out the likely downside target for wave c of iv, it will only make it lower to 127.22 before turning higher again in wave v towards 133.46.

Trading recommendation:

We are short EUR from 129.80 with stop placed at 129.70 and we will move our take-profit higher to 127.35.