Wave summary:
The correction in wave b ended a little lower than expected at 132.72, but still pretty close to our expected target at 132.88 and we will now be looking for a breakout above resistance at 134.22 confirming the next rally higher towards 135.34 and possibly even higher to 136.69 before this correction is over and a new impulsive decline can begin.
Trading recommendation:
We are long EUR from 132.95 and will move our stop higher to 132.70. If you are not long EUR yet, then buy 133.35 and use the same stop at 132.70.
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 December 11, 2015 . Thanks for your support.
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