Elliott wave analysis of EUR/JPY for February 16 – 2015
February 16, 2015 3:00 pm
Technical summary:
Nothing changed since last week. We are still looking for a final rally to 137.65 in wave (iv) to end the correction from 130.14 and set the stage for the final decline in wave (v) to the ideal target at 125.98 to end the expanded flat correction. The short-term support at 134.68 will protect the downside for the rally towards 137.65 to end wave (iv).
Trading recommendation:
We are still looking for a EUR-selling opportunity at 137.55 with stop placed at 138.85
The material has been provided by InstaForex Company – www.instaforex.com
Technical summary:
Nothing changed since last week. We are still looking for a final rally to 137.65 in wave (iv) to end the correction from 130.14 and set the stage for the final decline in wave (v) to the ideal target at 125.98 to end the expanded flat correction. The short-term support at 134.68 will protect the downside for the rally towards 137.65 to end wave (iv).
Trading recommendation:
We are still looking for a EUR-selling opportunity at 137.55 with stop placed at 138.85
The material has been provided by InstaForex Company – www.instaforex.com
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