FX.co ★ Elliott Wave Ananlysis of EUR/JPY for September 18, 2017

Wave summary:

No real change in view here.

We continue to look for more upside towars 134.80 and ideally closer to 137.36 to complete wave D. Short term, we should see minor support at 130.55 continue to protect the downside for the expected rally higher to 134.80.

R3: 134.80

R2: 133.80

R1: 132.80

Pivot: 132.50

S1: 132.24

S2: 131.75

S3: 130.56

Trading recommendation:

We are long EUR from 131.76 with stop placed at 130.50. Upon a break above 133.10 our stop will be move higher to 132.15.