Elliott wave analysis of EUR/JPY for August 12 – 2015
August 12, 2015 7:40 am
Technical summary:
With a clear break above 137.35 and 137.80, the triangle count was invalidated. The much more bullish count is again back in the limelight. The break above 137.80 calls for a new rally higher towards 142.05 on the way higher to 144.03.
Support is now found at 137.80 and again at the inverse S/H/S neckline near 137.38.
Trading recommendation:
Our stop at 137.45 was hit. We will look for a buying opportunity at 137.45.
The material has been provided by InstaForex Company – www.instaforex.com
Technical summary:
With a clear break above 137.35 and 137.80, the triangle count was invalidated. The much more bullish count is again back in the limelight. The break above 137.80 calls for a new rally higher towards 142.05 on the way higher to 144.03.
Support is now found at 137.80 and again at the inverse S/H/S neckline near 137.38.
Trading recommendation:
Our stop at 137.45 was hit. We will look for a buying opportunity at 137.45.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: