Elliott wave analysis of EUR/JPY for February 17 – 2015
February 17, 2015 7:50 am
Technical summary:
The correction from 130.14 just became even more complex, as a triple zig-zag combination is unfolding. The upper target remains the same at 137.65. At this point, only a direct break below support at 133.64 and more importantly a break below 132.52 will tell us, that the correction in wave (iv) ended early and wave (v) lower to 125.98 is already unfolding.
Trading recommendation:
We are still looking for a EUR-selling opportunity at 137.55
The material has been provided by InstaForex Company – www.instaforex.com
Technical summary:
The correction from 130.14 just became even more complex, as a triple zig-zag combination is unfolding. The upper target remains the same at 137.65. At this point, only a direct break below support at 133.64 and more importantly a break below 132.52 will tell us, that the correction in wave (iv) ended early and wave (v) lower to 125.98 is already unfolding.
Trading recommendation:
We are still looking for a EUR-selling opportunity at 137.55
The material has been provided by InstaForex Company – www.instaforex.com
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