You are here: Home > articles > Elliott Wave > Elliott wave analysis of EUR/JPY for December 24, 2013
Elliott wave analysis of EUR/JPY for December 24, 2013
December 24, 2013 11:45 amVideo
Latest News
- Technical Analysis – EURUSD returns within a sideways range May 7, 2024
- JPY tightens its grip on USD May 7, 2024
- EUR/USD. May 7th. The bulls are running out of strength May 7, 2024
- Forex forecast 05/07/2024: AUD/USD, NZD/USD, USD/CAD and Bitcoin from Sebastian Seliga May 7, 2024
- GBP/USD. May 7th. The pound feels a surge of strength ahead of the Bank of England meeting May 7, 2024
- Demand for USD remains stable May 7, 2024
- Technical Analysis – Gold attempts recovery to only face limitations again May 7, 2024
- Market Comment – Dollar stays weak as Fed rate cut bets increase May 7, 2024
- Hot forecast for EUR/USD on May 7, 2024 May 7, 2024
- Trading plan for GBP/USD on May 7. Simple tips for beginners May 7, 2024
- Trading plan for EUR/USD on May 7. Simple tips for beginners May 7, 2024
- Growth continues: Wall Street in green for third day in a row May 7, 2024
- Forecast for EUR/USD on May 7, 2024 May 7, 2024
- Forecast for GBP/USD on May 7, 2024 May 7, 2024
- Forecast for USD/JPY on May 7, 2024 May 7, 2024
- Technical Analysis of Intraday Price Movement of Gold Commodity Asset, Tuesday May 7, 2024. May 7, 2024
- Technical Analysis of Intraday Price Movement of Crude Oil Commodity Asset, Tuesday May 7, 2024. May 7, 2024
- Outlook for GBP/USD on May 7. A new week, a new rise May 7, 2024
- Outlook for EUR/USD on May 7. The dollar remains depressed May 7, 2024
- The euro will help itself May 7, 2024
Today’s Support and Resistance levels:
R3: 143.24
R2: 142.89
R1: 142.74
Current Spot: 142.60
S1: 142.42
S2: 142.14
S3: 141.86 – Important support – Break below indicates a top being in place.
Technical summary:
As resistance at 142.49 was broken we knew, that a new high above 142.89 is needed to finish this rally. Short term expect support at 142.42 to protect the downside for the last rally higher towards 143.24 where an important top should be found. From 143.24 or upon a break below 141.86 a major correction towards at least 124.95 should develop. This correction will be the biggest we have seen, both time- and pricewise since the 94.10 low.
Trading recommendation:
The stop at 142.75 was hit and we will be looking for a new selling opportunity at 143.15 or upon a break below 141.86.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: