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FX.co ★ Elliott wave analysis of EUR/JPY for April 22, 2021

Elliott wave analysis of EUR/JPY for April 22, 2021

Elliott wave analysis of EUR/JPY for April 22, 2021

EUR/JPY failed to break clearly above resistance at 130.67 but the fact that it tried indicates that we only should look for a dip to support at 129.57 or maybe slightly below before the next rally higher. This time we should expect key-resistance at 130.67 to be broken for the next impulsive rally towards 132.16 and 133.12.

Trading recommendation:

Buy EUR near 129.57 or upon a break above 130.67

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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