Elliott wave analysis of EUR/JPY for August 25 – 2016
August 25, 2016 5:54 am
Wave summary:
This cross remains lock inside a very narrow trading range. We try to stay patient and awaits it to break out from this range. We do slightly favor a break towards the upside above 114.03 for a continuation higher to 118.47 and 122.00.
That said, as long as as the 112.28 – 114.03 range remains intact, we will just have to wait patiently for the market to show us, what way it wants to break.
Trading recommendation:
We will only buy upon a break above 114.03
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Wave summary:
This cross remains lock inside a very narrow trading range. We try to stay patient and awaits it to break out from this range. We do slightly favor a break towards the upside above 114.03 for a continuation higher to 118.47 and 122.00.
That said, as long as as the 112.28 – 114.03 range remains intact, we will just have to wait patiently for the market to show us, what way it wants to break.
Trading recommendation:
We will only buy upon a break above 114.03
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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