Elliott wave analysis on EUR/JPY and follow-up

EUR/JPY - First see my post from April 17 here: http://theelliottwavesufer.blogspot.com/2012/04/update-on-usdjpy-and-eurjpy.html

As we have now broken above resistance at 107.10 we have confirmation that wave 2 ended at 104.61 on April 16.

The next minor upside target is 108.00 and depending on how aggressive you are you should move stops up to your entry-point (break-even) for the conservative trader, while the aggressive trader will have stops just beneath the steep rising support-line which currently comes in at 106.70.

In both cases consider taking profit near the 108.00 target.