Elliott wave analysis of EUR/JPY for October 5, 2018
October 5, 2018 7:21 amVideo
Latest News
- Analysis of EUR/USD pair on May 31st. EU inflation supports the euro May 31, 2024
- Analysis of GBP/USD pair on May 31st. The PCE index also works against the dollar May 31, 2024
- USD/JPY: Simple trading tips for novice traders on May 31st (US session) May 31, 2024
- GBP/USD: Simple trading tips for novice traders on May 31st (US session) May 31, 2024
- Technical Analysis – US 100 stock index might lose more in short-term May 31, 2024
- EUR/USD: Simple trading tips for novice traders on May 31st (US session) May 31, 2024
- GBP/USD: trading plan for the US session on May 31st (analysis of morning deals). The pound was bought in the area of 1.2706 May 31, 2024
- EUR/USD: trading plan for the US session on May 31st (analysis of morning deals). The euro continued to grow May 31, 2024
- EUR/USD. May 31st. The economic data stopped the bears again May 31, 2024
- GBP/USD. May 31st. Bears remain weak and the pound rises alongside euro May 31, 2024
- Weekly Forex Outlook: 31/05/2024 – ECB cut might get eclipsed by BoC surprise and NFP May 31, 2024
- Cryptos consolidate as spot Ether ETF excitement fades – Crypto News May 31, 2024
- Technical Analysis – USDJPY may retest 157.70 May 31, 2024
- June forecast: Dollar index poised for growth May 31, 2024
- Week Ahead – ECB rate cut might get eclipsed by BoC surprise and NFP report May 31, 2024
- Forex forecast 05/31/2024: EUR/USD, GBP/USD, USD/JPY and Bitcoin from Sebastian Seliga May 31, 2024
- EUR/USD and GBP/USD: Technical analysis on May 31 May 31, 2024
- Market Comment – US and Eurozone inflation data in focus May 31, 2024
- Technical Analysis – EURGBP stuck around the crucial 0.8500 floor May 31, 2024
- Technical Analysis – USDCAD meets uptrend line again and again May 31, 2024
EUR/JPY dipped below support at 130.94, but did not have the power to challenge the 130.69 low, this indicate to us, that a possible low now is in place at 130.69 has we expected all along and renewed upside pressure is building. To confirm that blue wave (4) has completed and blue wave (v) is developing a break above resistance at 131.57 and more importantly a break above 131.97 that confirms blue wave (5) is unfolding towards 133.96.
Even if support at 130.74 is taken out, then the potential downside should remain very limited. However, we do not expect it will.
R3: 131.98
R2: 131.57
R1: 131.37
Pivot: 131.18
S1: 131.02
S2: 130.74
S3: 130.69
Trading recommendation:
We are long EUR from 131.50 with our stop placed at 130.65. If you are not long EUR yet, the wait a buy a break above 131.97 and start by using the same stop at 130.65.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: