Elliott wave analysis of EUR/JPY for March 20, 2017
March 20, 2017 5:55 am
Wave summary:
Wave ii is still unfolding and is expected to move lower towards at least 120.57 and maybe even closer to 119.99, which marks the 61.8% corrective target of the rally from 118.19 to 122.89.
Once wave ii is complete, the scenario is still valid for a strong rally higher towards 125.53.
R3: 121.54
R2: 121.30
R1: 121.17
Pivot: 121.10
S1: 120.87
S2: 120.77
S3: 120.57
Trading recommendation:
We will buy EUR at 120.65 or upon a break above 121.60.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Wave summary:
Wave ii is still unfolding and is expected to move lower towards at least 120.57 and maybe even closer to 119.99, which marks the 61.8% corrective target of the rally from 118.19 to 122.89.
Once wave ii is complete, the scenario is still valid for a strong rally higher towards 125.53.
R3: 121.54
R2: 121.30
R1: 121.17
Pivot: 121.10
S1: 120.87
S2: 120.77
S3: 120.57
Trading recommendation:
We will buy EUR at 120.65 or upon a break above 121.60.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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