Technical summary:
We saw a breakout above resistance at 137.04, but it was almost immediately reversed, which indicated that we saw a failure breakout. Tthe downside pressure will increase now.
In the short term, we will need a break below support at 135.99 to confirm that the x-wave is over and a new decline towards 131.45 is developing.
Trading recommendation:
We will sell EUR here at 136.62 and will place stop at 137.40
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 18, 2015 . Thanks for your support.
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