Elliott wave analysis of EUR/JPY for May 18, 2017

Wave summary: Our preferred count continues to work nicely and we have seen the expected decline towards at least 122.94, but the decline could easily extend lower towards the 38.2% corrective target seen at 120.69 before taking off again towards 138.52. Short term, resistance is seen at 124.35 and again at 124.93. R3: 125.57 R2: […]