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    Elliott wave analysis of EUR/JPY for February 18 - 2015

    2015-02-18-EURJPY-4H.png

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    Technical summary:

    The picture is pretty much the same. We continue to look for the final zig-zag correction from 130.14, which ideally should continue higher towards 137.65 before wave (iv) is over, and a wave (v) lower towards 125.98 is expected. In the short term only a direct break below support at 133.92 will indicate that wave (iv) already is over and wave (v) lower to end wave C of the expanded flat correction is developing.

    Trading recommendation:

    We will sell the euro at 137.55 or upon a break below 133.92.

    Uitgevoerd door, Analytische expert
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