Elliott wave analysis of EUR/JPY for August 26 – 2016

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Wave summary:

There really is not anything new to add here.

We remain lock in a very narrow range between 112.28 and 114.03. We slightly favor a break towards the upside for a rally to 118.70 and 122.00 as the next upside targets. Only time will tell, what way we are going to break.

Trading recommendation:

We will only buy a break above 114.03 with stop placed at 112.20.

The material has been provided by InstaForex Company – www.instaforex.com

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