InstaForex - Analytics


    735.75 6.25/10
    62% of positive reviews

    Elliott wave analysis of EUR/JPY for March 9 - 2015


    Show full picture

    Technical summary:

    The decline towards an ideal downside target for wave (v) of C continues to unfold as expected. In the short term, we are looking for moving lower towards 129.64 and perhaps even lower towards 128.69 in blue wave iii. As we have seen a series of waves one and two, a series of waves three and four should unfold accordingly. Ideally, a minor resistance at 131.88 is likely to protect the upside from the expected decline towards 129.64

    Trading recommendation:

    We are short EUR from 133.90 and will lower our stop to 132.45. If you are not short EUR yet, then sell EUR near 131.88 with the same stop at 132.45.

    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