Elliott wave analysis of EUR/JPY for June 13, 2017
June 13, 2017 5:06 am
Wave summary:
No change in view here. We are still looking for more upside in wave d closer to 134.62 before a final dip in wave e will be expected to complete the triangle consolidation and set the stage for the next rally higher to at least 134.58 and likely even closer to 138.52.
Only an unexpected break below support at 122.53 will invalidate the triangle count and call for another corrective pattern.
R3: 124.04
R2: 123.73
R1: 123.40
Pivot: 123.20
S1: 123.00
S2: 122.77
S3: 122.53
Trading recommendation:
Our stop at 122.85 has been hit for a loss.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Wave summary:
No change in view here. We are still looking for more upside in wave d closer to 134.62 before a final dip in wave e will be expected to complete the triangle consolidation and set the stage for the next rally higher to at least 134.58 and likely even closer to 138.52.
Only an unexpected break below support at 122.53 will invalidate the triangle count and call for another corrective pattern.
R3: 124.04
R2: 123.73
R1: 123.40
Pivot: 123.20
S1: 123.00
S2: 122.77
S3: 122.53
Trading recommendation:
Our stop at 122.85 has been hit for a loss.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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