Technical summary:
As expected, a low was seen close to the 138.03 corrective target (the low came in at 137.94) and we are now looking for a break above 139.61 confirming a new test of 141.03 as the price in wave (iii) accelerates towards the next upside target at 144.03.
Only an unexpected break below support at 137.94 will delay the expected upside acceleration towards 144.03.
Trading recommendation:
We bought EUR at 138.10 and will place our stop at 137.85.
The material has been provided by InstaForex Company - www.instaforex.comFor detail explanation and best discovery on daily market trends and news you may visit via Elliott wave analysis of EUR/JPY for June 15, 2015 . Thanks for your support.
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