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    EUR/JPY Elliott Wave Count for April 24, 2012

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    Technical outlook and chart setups:

    The GBP/CHF pair seems to be retracing for now and is trading at the levels of 1.4515. As depicted here, the Fibonacci support begins at the levels of 1.4467, while 1.4391 (fibonacci 0.618) remains the best buy opportunity. It is recommended to remain flat for now and look to enter buying at lower levels. Candlestick support is seen at 1.4260/70 followed by 1.4100, 1.4000, while resistance is seen at the levels of 1.4650 levels followed by 1.4750 and higher, respectively. Please note that a break below the trend line and subsequently 1.4270 could indicate a deeper correction.

    Trading recommendations:

    Remain flat for now.

    Good luck!

    Nicola Delic neemt deel aan de "Analyst of the Year" onderscheiding georganiseerd door portal. Als u zijn artikel goed vindt, stemt u dan op hem.

    Uitgevoerd door, Analytische expert
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