You are here: Home > articles > Elliott Wave > Elliott wave analysis of EUR/JPY for September 9 – 2016
Elliott wave analysis of EUR/JPY for September 9 – 2016
September 9, 2016 6:48 amVideo
Latest News
- Will the euro manage to save itself? April 17, 2024
- Analysis for GBP/USD on April 16th. The pound should not count on support from Powell April 16, 2024
- Analysis for EUR/USD on April 16th. The southern trend has been put on pause for correction April 16, 2024
- USD/JPY: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- GBP/USD: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- Trading Signals for GBP/USD for April 16-18, 2024: buy above 1.2405 or 1.2450 (21 SMA – 0/8 Murray) April 16, 2024
- EUR/USD: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- AUD/USD: Australian dollar remains under pressure April 16, 2024
- GBP/USD: trading plan for the US session on April 16th (analysis of morning deals). The pound was quickly bought back around April 16, 2024
- Trading Signals for BITCOIN (BTC/USD) for April 16-18, 2024: buy above $62,500 (4/8 Murray – 21 SMA) April 16, 2024
- Technical Analysis – USDCAD blossoms ahead of central bank speeches April 16, 2024
- EUR/USD: trading plan for the US session on April 16th (analysis of morning deals). Fewer people are willing to sell euro April 16, 2024
- EUR/USD. April 16th. Bears continue to advance against the backdrop of strong US statistics April 16, 2024
- Euro, sterling extend weakness April 16, 2024
- GBP/USD. April 16th. British statistics didn’t capture traders’ attention April 16, 2024
- Technical Analysis – EURCHF ticks up after strong losses April 16, 2024
- Technical Analysis – JP 225 index tests crucial support zone April 16, 2024
- Market Comment – Stocks slide, dollar soars as rate cut bets take another hit April 16, 2024
- Forex forecast 04/16/2024: EUR/USD, USDX, Gold and SP500 from Sebastian Seliga April 16, 2024
- GBP/USD: trading tips for beginners for European session on April 16 April 16, 2024
Wave summary:
EUR/JPY found a floor at 113.80, so the important support at 113.11 remains safe for now. A quick break above minor resistance at 115.68 and more importantly a break above resistance at 116.37 is needed to confirm the impulsive count. A failure to break above minor resistance at 115.68 will keep several possibilities open. One is that blue wave (ii) need one more decline to just below 113.80, but not below 113.11 and then a new impulsive rally higher.
That said, a break below 113.11 will shift the count towards the triangle consolidation and one more decline to below 109.49.
As this is still very much an open game, we will have to stay flexible.
Trading recommendation:
We will keep our buy-order at 113.50, but will place a stop+revers at 113.05. We will also place a buy order at 116.40 (one order done cancels the other).
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
Related Posts: