InstaForex - Analytics

    InstaForex

    699.25 6.25/10
    61% of positive reviews
    Real

    Elliott wave analysis of EUR/JPY for April 7 - 2015

    2015-04-07-EURJPY-4H.png

    Show full picture

    Technical summary:

    We are still looking for resistance at 131.74 to protect the upside for the final decline towards the 38.2% corrective target at 125.98 to end wave C of the expanded flat correction, that has been dominating the picture since late December 2013. If however resistance at 131.74 is broken the odds swings in favor of a long term bottom being in place already at 126.87 and a new impulsive rally unfolding already.

    Trading recommendation:

    Our stop at 129.50 was taken out for a small profit. As wave (v) of C is well advanced we will stay neutral for now.

    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