Elliott wave analysis of EUR/JPY for April 14 – 2015
April 14, 2015 6:30 am
Technical summary:
We can observe a correction in red wave iv, which could be some kind of triangle consolidation before the final decline closer to 125.98 to terminate wave C of the expanded flat correction, which has dominated the picture since late December 2013. After this decline in wave C is over, we should see a new impulsive rally to above 149.55.
Trading recommendation:
Now, wave (v) C is advanced so well that a bottom could be found at anytime. So, we will be looking for EUR buying opportunity around 125.98.
The material has been provided by InstaForex Company – www.instaforex.com
Technical summary:
We can observe a correction in red wave iv, which could be some kind of triangle consolidation before the final decline closer to 125.98 to terminate wave C of the expanded flat correction, which has dominated the picture since late December 2013. After this decline in wave C is over, we should see a new impulsive rally to above 149.55.
Trading recommendation:
Now, wave (v) C is advanced so well that a bottom could be found at anytime. So, we will be looking for EUR buying opportunity around 125.98.
The material has been provided by InstaForex Company – www.instaforex.com
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