Elliott wave analysis of EUR/JPY for June 15, 2017
June 15, 2017 5:28 am
Wave summary:
Important support at 122.53 should continue to protect the downside for a break above minor resistance seen at 123.64 for the expected rally higher to 124.62 to complete wave d of the triangle consolidation.
Only an unexpected break below 122.53 will extend the decline from 125.82 lower to 121.63 in new corrective pattern.
R3: 124.62
R2: 124.04
R1: 123.64
Pivot: 123.25
S1: 122.67
S2: 122.53
S3: 121.63
Trading recommendation:
We will buy EUR here at 122.95 with a stop placed at 122.45 risking only 50 pips. Take profit will be placed at 124.50.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Wave summary:
Important support at 122.53 should continue to protect the downside for a break above minor resistance seen at 123.64 for the expected rally higher to 124.62 to complete wave d of the triangle consolidation.
Only an unexpected break below 122.53 will extend the decline from 125.82 lower to 121.63 in new corrective pattern.
R3: 124.62
R2: 124.04
R1: 123.64
Pivot: 123.25
S1: 122.67
S2: 122.53
S3: 121.63
Trading recommendation:
We will buy EUR here at 122.95 with a stop placed at 122.45 risking only 50 pips. Take profit will be placed at 124.50.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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