Elliott wave analysis of EUR/JPY for June 14, 2017
June 14, 2017 6:12 am
Wave summary:
Not really much to add here. The triangle consolidation remains the preferred outlook. We continue to look for wave d closer to 134.62 before the final dip lower in wave e to complete the triangle consolidation, setting the stage for renewed upside pressure towards 134.58 and likely even closer to 138.52.
Only an unexpected break below 122.53 will shift to an alternate corrective structure.
R3: 124.04
R2: 123.73
R1: 123.40
Pivot: 123.20
S1: 123.00
S2: 122.77
S3: 122.53
Trading recommendation:
We are neutral for now.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Wave summary:
Not really much to add here. The triangle consolidation remains the preferred outlook. We continue to look for wave d closer to 134.62 before the final dip lower in wave e to complete the triangle consolidation, setting the stage for renewed upside pressure towards 134.58 and likely even closer to 138.52.
Only an unexpected break below 122.53 will shift to an alternate corrective structure.
R3: 124.04
R2: 123.73
R1: 123.40
Pivot: 123.20
S1: 123.00
S2: 122.77
S3: 122.53
Trading recommendation:
We are neutral for now.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
Related Posts: