Elliott wave analysis of EUR/JPY for February 13 – 2015
February 13, 2015 7:40 am
Technical summary:
We have seen the expected consolidation and a break above 135.95. More importantly, a break above 136.35 will indicate that the final rally higher towards 137.65 is developing to end wave (iv) and set the stage for wave (v) lower to the ideal target of 125.98. At this point, only an unexpected direct break below support at 134.00 will indicate that the correction from 130.14 ended early and the decline towards 125.98 already is developing.
Trading recommendations:
The material has been provided by InstaForex Company – www.instaforex.com
Technical summary:
We have seen the expected consolidation and a break above 135.95. More importantly, a break above 136.35 will indicate that the final rally higher towards 137.65 is developing to end wave (iv) and set the stage for wave (v) lower to the ideal target of 125.98. At this point, only an unexpected direct break below support at 134.00 will indicate that the correction from 130.14 ended early and the decline towards 125.98 already is developing.
Trading recommendations:
The material has been provided by InstaForex Company – www.instaforex.com
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