Elliott wave analysis of EUR/JPY for December 29 – 2014
December 29, 2014 8:30 am
Technical summary:
There is no real change here. We are still looking for a rally towards 148.36 to end the x-wave and set the stage for a new decline in wave y towards at least 143.50 and possibly even lower to 142.06. Only a direct break below support at 145.95 will indicate that the x-wave ended early, and the decline to 143.50 is developing.
Trading recommendation:
Our stop at 146.40 was hit. We will sell EUR again at 148.30 or upon a break below 145.95.
The material has been provided by InstaForex Company – www.instaforex.com
Technical summary:
There is no real change here. We are still looking for a rally towards 148.36 to end the x-wave and set the stage for a new decline in wave y towards at least 143.50 and possibly even lower to 142.06. Only a direct break below support at 145.95 will indicate that the x-wave ended early, and the decline to 143.50 is developing.
Trading recommendation:
Our stop at 146.40 was hit. We will sell EUR again at 148.30 or upon a break below 145.95.
The material has been provided by InstaForex Company – www.instaforex.com
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