InstaForex - Analytics


    694.50 6.50/10
    61% of positive reviews

    Elliott wave analysis of EUR/JPY for March 6 - 2015


    Show full picture

    Technical summary:

    A series of waves one's and two's has been developing, but should soon be offset with a series of waves three's and four's, which means the decline towards 125.98 will consist of small sharp dips followed by small corrections, but all the time moving lower towards the ideal target. At no point we should see a break above 133.59 as it will confuse the overall count, but only a break above 134.60 will invalidate the bearish count.

    Trading recommendation:

    We are short EUR from 133.90 and will lower our stop to 133.65. If you are not short EUR yet, then sell a break below 132.06 with the same stop at 133.65.

    Uitgevoerd door, Analytische expert
    InstaForex Group © 2007-2015

    To leave a comment you must or Join us

    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree