Elliott wave analysis of EUR/JPY for July 26 – 2016
July 26, 2016 5:51 am
Wave summary:
The expected corrective decline in wave [ii] picked up speed and broke below support at 114.80 calling for a deeper correction closer to 113.70 (61.8% of wave [i]) and maybe even lower to 112.42 (78.6% of wave [i]).
Short term, resistance is now seen at 115.44, which likely will hold for a decline closer to 113.70.
Trading recommendation:
Look for a buying opportunity near 113.70.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Wave summary:
The expected corrective decline in wave [ii] picked up speed and broke below support at 114.80 calling for a deeper correction closer to 113.70 (61.8% of wave [i]) and maybe even lower to 112.42 (78.6% of wave [i]).
Short term, resistance is now seen at 115.44, which likely will hold for a decline closer to 113.70.
Trading recommendation:
Look for a buying opportunity near 113.70.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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