Elliott wave analysis of EUR/JPY for April 13 – 2015
April 13, 2015 6:10 am
Technical summary:
The triangle count has worked perfectly and it should just be a matter of time, before the former low at 126.87 is broken and new lows for the year is seen. The ideal downside target is found at 125.98, where wave C of the expanded flat correction from late December will have corrected 38.2% of the rally from 94.10 to 145.69. This this correction is over and new impulsive rally is expected to above 149.55.
Trading recommendation:
We missed our EUR/selling order by a little margin and will not try to play catch with this cross as it’s close to a potential turning point.
The material has been provided by InstaForex Company – www.instaforex.com
Technical summary:
The triangle count has worked perfectly and it should just be a matter of time, before the former low at 126.87 is broken and new lows for the year is seen. The ideal downside target is found at 125.98, where wave C of the expanded flat correction from late December will have corrected 38.2% of the rally from 94.10 to 145.69. This this correction is over and new impulsive rally is expected to above 149.55.
Trading recommendation:
We missed our EUR/selling order by a little margin and will not try to play catch with this cross as it’s close to a potential turning point.
The material has been provided by InstaForex Company – www.instaforex.com
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