24.02.202110:12 Forex Analysis & Reviews: Elliott wave analysis of EUR/JPY for February 24, 2021

Exchange Rates 24.02.2021 analysis

EUR/JPY is ready for the next run higher towards the 129.06 target. Once this target is hit, we should see a minor correction/consolidation before the next push higher towards 132.87 and 137.50 as the next more serious upside targets.

Long-term, we continue to look for much higher levels with key-support seen at 127.06

R3: 129.06

R2: 128.65

R1: 128.36

Pivot: 128.26

S1: 128.10

S2: 127.66

S3: 127.06

Trading recommendation:

We are long EUR from 125.85 with our stop placed at 126.85.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

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