Elliott wave analysis of EUR/JPY for December 30, 2014
December 30, 2014 9:40 am
Technical summary:
The x-wave we where looking for ended early at 147.22; and now we will be looking for a decline in wave y to 142.44, where wave y will be equal in length to wave w. In short-term we expect minor resistance at 145.75 to protect the upside for a continuation lower to 144.71.
Trading recommendation:
We sold EUR at 145.90 and will place our stop at 146.55 and take profit at 142.50.
The material has been provided by InstaForex Company – www.instaforex.com
Technical summary:
The x-wave we where looking for ended early at 147.22; and now we will be looking for a decline in wave y to 142.44, where wave y will be equal in length to wave w. In short-term we expect minor resistance at 145.75 to protect the upside for a continuation lower to 144.71.
Trading recommendation:
We sold EUR at 145.90 and will place our stop at 146.55 and take profit at 142.50.
The material has been provided by InstaForex Company – www.instaforex.com
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