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25.08.2016 07:54 AM
Elliott wave analysis of EUR/JPY for August 25 - 2016

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Wave summary:

This cross remains lock inside a very narrow trading range. We try to stay patient and awaits it to break out from this range. We do slightly favor a break towards the upside above 114.03 for a continuation higher to 118.47 and 122.00.

That said, as long as as the 112.28 - 114.03 range remains intact, we will just have to wait patiently for the market to show us, what way it wants to break.

Trading recommendation:

We will only buy upon a break above 114.03

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