Elliott wave analysis of EUR/JPY for August 24 – 2016
August 24, 2016 5:54 am
Wave summary:
As we have been trading within a 50 pip range over the last week, there is absolutely nothing new to add here. We remains slightly bullish for a break above 114.03, but until a break is confirmed, we must allow for more consolidation with the 112.28 – 114.03 range.
A break above 114.03 will call for a new rally to 118.46 and above.
Trading recommendation:
We will buy a break above 114.03 with stop placed at 112.20.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Wave summary:
As we have been trading within a 50 pip range over the last week, there is absolutely nothing new to add here. We remains slightly bullish for a break above 114.03, but until a break is confirmed, we must allow for more consolidation with the 112.28 – 114.03 range.
A break above 114.03 will call for a new rally to 118.46 and above.
Trading recommendation:
We will buy a break above 114.03 with stop placed at 112.20.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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