Elliott Wave analysis of EUR/JPY for January 9, 2014
January 9, 2014 10:15 amVideo
Latest News
- Analysis of EUR/USD pair on May 24, 2024 May 24, 2024
- Analysis of GBP/USD pair on May 24th. Another British report showed weakness, but who cares? May 24, 2024
- USD/JPY: Simple trading tips for novice traders on May 24th (US session) May 24, 2024
- GBP/USD: Simple trading tips for novice traders on May 24th (US session) May 24, 2024
- EUR/USD: Simple trading tips for novice traders for May 24th (US session) May 24, 2024
- GBP/USD: trading plan for the US session on May 24th (analysis of morning deals). Sellers missed 1.2700 May 24, 2024
- EUR/USD: trading plan for the US session on May 24th (analysis of morning deals). The euro is not going to give up May 24, 2024
- EUR/USD. May 24th. The bears are starting to go on the offensive May 24, 2024
- Forecast of GBP/USD pair on May 24, 2024 May 24, 2024
- Trading Signals for EUR/USD for May 24-28, 2024: sell below 1.0864 (200 EMA – 21 SMA) May 24, 2024
- Trading Signals for GOLD (XAU/USD) for May 24-28, 2024: buy above $2,333 (200 EMA – oversold) May 24, 2024
- Weekly Forex Outlook: 24/05/2024 – US PCE inflation and Eurozone CPI data enter the spotlight May 24, 2024
- Technical Analysis – Is the pause in NGAS a warning signal? May 24, 2024
- Technical Analysis – USDCAD eases slightly after bullish rally May 24, 2024
- Week Ahead – US PCE inflation and Eurozone CPI data enter the spotlight May 24, 2024
- Technical Analysis – GBPJPY continues its journey north May 24, 2024
- Video market update for May 24, 2024 May 24, 2024
- Forex forecast 05/24/2024: EUR/USD, GBP/USD, USD/CAD, Gold and Bitcoin from Sebastian Seliga May 24, 2024
- USD/JPY: trading tips for beginners for European session on May 24 May 24, 2024
- GBP/USD: trading tips for beginners for European session on May 24 May 24, 2024
Today’s Support and Resistance levels:
R3: 142.97
R2: 142.85
R1: 142.64
Current Spot: 142.51
S1: 142.38
S2: 142.12
S3: 141.73
Technical summary:
We are likely in the very early part of the powerful wave iii lower. This coming wave iii will ideally take us down to at least 136.43 and possibly lower. However, in the short term we need a break below support at 142.31 to indicate that wave iii is gaining momentum. Until the break below support at 142.31 is seen, we could see this correction move a little higher towards 142.77 and even higher towards 142.85 and 142.97, before the wave iii really takes over.
At no point, a break above 143.17 can be allowed, as that will invalidate this count and delay for a move closer to 144.00 before move down.
Trading recommendation:
Stay short in EUR from 143.00 with stop placed at 143.20. If you are not short in EUR yet, then sell after a break below 142.30 with the same stop at 143.20.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: