Wave summary:
Nothing is going on here at the moment. We would still like to see a minor move lower to 132.88 before the next rally higher towards at least 135.34 and possibly even higher to 136.69 before renewed downside pressure should be expected.
Only a direct breakout above resistance at 134.59 will cancel the expected decline closer to 132.88 and move directly towards 135.34.
Trading recommendation:
We are looking for a buying opportunity at 132.95. If done, we will place our stop at 132.00.
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 9, 2015 . Thanks for your support.
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