FX.co ★ Elliott wave analysis of EUR/JPY for October 2 - 2015

Technical summary:

We continue to look for a final decline closer to 131.45 before a firm bottom to be in place for a new impulsive rally back to 141.03 and higher.

In the short term, we expect minor resistance at 134.43 will be able to protect the upside for the next downside attack and a break below support at 133.14 for the move closer to 131.45.

Trading recommendation:

We will buy EUR near 131.45 or upon a break above 135.10 (one order done cancels the other).