Technical summary:
A nice breakout above resistance at 135.71 is expected to continue moving higher towards 141.00. On the way higher, we should expect minor resistance near 137.43 and again at 138.10 as we work our the way higher.
Support is now found at 136.31 and again at 135.71, which will ideally protect the downside for a rally higher to 138.10 and beyond.
Trading recommendation:
We are long EUR from 135.10 and will move stop higher to 135.30. If you are not long EUR yet, buy near 136.31 with the same stop at 135.30.
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 October, 2015 . Thanks for your support.
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