Elliott wave analysis of EUR/JPY for March 14, 2017
March 14, 2017 2:40 pm
Wave summary:
The correction from 122.89 should soon complete for the next rally higher towards 124.20 and likely even closer to 125.53. Short term, a break above minor resistance seen at 122.63 will confirm that the correction is complete and the next rally higher is unfolding.
R3: 122.98
R2: 122.63
R1: 122.22
Pivot: 122.00
S1: 121.75
S2: 121.43
S3: 121.20
Trading recommendation:
We are long EUR from 119.86 with stop at 121.00. If you are not long EUR yet, then buy near 121.75 or upon a break above 122.63 and use the same stop at 121.00.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Wave summary:
The correction from 122.89 should soon complete for the next rally higher towards 124.20 and likely even closer to 125.53. Short term, a break above minor resistance seen at 122.63 will confirm that the correction is complete and the next rally higher is unfolding.
R3: 122.98
R2: 122.63
R1: 122.22
Pivot: 122.00
S1: 121.75
S2: 121.43
S3: 121.20
Trading recommendation:
We are long EUR from 119.86 with stop at 121.00. If you are not long EUR yet, then buy near 121.75 or upon a break above 122.63 and use the same stop at 121.00.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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