Technical summary:
A decline from 137.05 is performen in three waves and therefore more upside pressure is expected towards 138.25 where we the resistance-line of 141.06 is found. A movement back to a high of 141.06 and even higher to 143.90 should be expected.
Only if the resistance line near 138.25 is able to turn prices lower we should see a decline to 126.59 soon and maybe even lower.
Trading recommendation:
Our stop at 136.45 was hit for a very small loss. We will buy EUR at 135.75 with stop at 135.10.
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 September 17, 2015 . Thanks for your support.
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