You are here: Home > articles > Elliott Wave > Elliott wave analysis of EUR/JPY for January 18, 2016
Elliott wave analysis of EUR/JPY for January 18, 2016
January 18, 2016 6:30 amVideo
Latest News
- Technical Analysis – EURUSD capped by 20-day SMA as rebound falters May 2, 2024
- Forex forecast 05/02/2024: EUR/USD, USD/JPY and Gold from Sebastian Seliga May 2, 2024
- USD/JPY: trading tips for beginners for European session on May 2 May 2, 2024
- GBP/USD: trading tips for beginners for European session on May 2 May 2, 2024
- EUR/USD: trading tips for beginners for European session on May 2 May 2, 2024
- Market Comment – Dollar slides as Powell rules out rate hikes May 2, 2024
- RBA decision: will a rate hike be back on the table? – Preview May 2, 2024
- Video market update for May 02, 2024 May 2, 2024
- Technical Analysis – Bullish pressure in AUDUSD lingers May 2, 2024
- Key events on May 2: fundamental analysis for beginners May 2, 2024
- Trading plan for GBP/USD on May 2. Simple tips for beginners May 2, 2024
- Trading plan for EUR/USD on May 2. Simple tips for beginners May 2, 2024
- Technical Analysis of Intraday Price Movement of EUR/USD Main Currency Pairs, Thursday May 02 2024. May 2, 2024
- Technical Analysis of Intraday Price Movement of Nasdaq 100 Index, Thursday May 02 2024. May 2, 2024
- Forecast for EUR/USD on May 2, 2024 May 2, 2024
- Forecast for GBP/USD on May 2, 2024 May 2, 2024
- Forecast for AUD/USD on May 2, 2024 May 2, 2024
- Bank of Japan is trapped and increasingly dependent on the Fed’s stance. Overview of USD/JPY May 2, 2024
- Trading Signals for GOLD (XAU/USD) for May 1-2, 2024: buy above $2,290 (21 SMA – 4/8 Murray) May 1, 2024
- Technical Analysis – US 500 index might hit lower levels after Tuesday’s slump May 1, 2024
Wave summary:
The triangle continues to unfold as we expected. In the short term, we should see support at 127.28 protecting the downside for another small rally towards 128.50 before the thrust downside takes us lower to 126.05 and 125.45.
In the long term, I would be looking for even more downside pressure towards 123.57 and the next major downside target.
Trading recommendation:
We are short EUR from 130.95 with stop placed at 129.50. If you are not short yet, then sell near 128.50 or upon a break below support at 127.28 and place your stop order at 129.50.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: