InstaForex - Analytics

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    Elliott wave analysis of EUR/JPY for November 4 - 2015

    2015-11-04-EURJPY-4H.png

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    Wave summary:

    Wave b of red wave 2 was rerouted, but as long as support at 132.15 protects the downside, I continue to look for a little more upside in red wave 2 towards 134.02 before red wave 3 takes over for a strong decline to 126.05 and likely even lower to 119.90. In the short term, a break above 133.05 confirms the next part of the corrective move higher to 134.02.

    We will sell EUR at 133.85 or upon a break below 132.16 (one order done cancels the other).


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