Elliott Wave Ananlysis of EUR/JPY for July 14, 2017

Wave summary:

We continue to look for a deeper correction closer to support near 125.82 before the next rally higher should be expected.

Short-term, we are looking for minor resistance at 129.66 to be able to protect the upside for the next decline towards 125.82.

Trading recommendation:

We are short EUR from 129.85 with a stop placed at 129.70. If you are not short EUR yet, then sell near 129.65 and use the same stop. Take profit at 126.10.