logo

FX.co ★ Elliott wave analysis of EUR/JPY for July 30, 2020

Elliott wave analysis of EUR/JPY for July 30, 2020

Elliott wave analysis of EUR/JPY for July 30, 2020

Support in the 122.81 - 123.05 area has protected the downside and we should expect a new break above minor resistance at 123.92. The pair may rise to 125.82 and 127.38 as EUR/JPY is trying to reach 129.26.

Support is seen in the 122.87 - 123.05 area, which we think will be able to protect the downside for the next push higher.

R3: 124.85

R2: 124.30

R1: 123.92

See also: InstaForex is one of the leaders in the Forex market, 12 years on the market, more than 7,000,000 active clients

Pivot: 123.60

S1: 123.31

S2: 122.91

S3: 122.81

Trading recommendation:

We are long EUR from 123.35 with our stop placed at 122.75

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
Go to the articles list Go to this author's articles Open trading account