You are here: Home > articles > Elliott Wave > Elliott Wave Analysis of EUR/JPY for January 24, 2014
Elliott Wave Analysis of EUR/JPY for January 24, 2014
January 24, 2014 12:45 pmVideo
Latest News
- Euro will return to parity April 12, 2024
- Trading Signals for ETH/USD (Ethereum) for April 12-15, 2024: buy above $3,435 (3/8 Murray – 200 EMA) April 12, 2024
- EUR/USD. Analysis for April 12th. The euro falls down under the pressure of the news background April 12, 2024
- GBP/USD. Analysis for April 12th. A significant event: the pound fell below the 25-figure April 12, 2024
- Trading Signals for EUR/USD for April 12-15, 2024: buy above 1.0620 (-2/8 Murray – rebound) April 12, 2024
- GBP/USD: trading plan for the US session on April 12th (analysis of morning deals). The pound followed the euro April 12, 2024
- EUR/USD: trading plan for the US session on April 12th (analysis of morning deals). The euro continues to fall April 12, 2024
- EUR/USD and GBP/USD: Technical analysis on April 12 April 12, 2024
- EUR/USD: Dovish signals from the ECB and rising PPI April 12, 2024
- EUR/USD. April 12th. ECB meeting: confidence in rate cut increased in June April 12, 2024
- GBP/USD. April 12th. British economy continues to stagnate April 12, 2024
- Analysis and trading tips for EUR/USD on April 12 (US session) April 12, 2024
- Analysis and trading tips for USD/JPY on April 12 (US session) April 12, 2024
- Analysis and trading tips for GBP/USD on April 12 (US session) April 12, 2024
- Weekly Forex Outlook: 12/04/2024 – More inflation data on the way as rate cut bets in disarray April 12, 2024
- Technical Analysis – GBPUSD ticks down to new 5-month low April 12, 2024
- Bitcoin holds above $70,000 as halving event looms – Crypto News April 12, 2024
- Week Ahead – More inflation data on the way as rate cut bets thrown into disarray April 12, 2024
- Bitcoin will thrive during supply crisis April 12, 2024
- Technical Analysis – EURUSD plummets after US CPI and ECB decision April 12, 2024
Today’s Support and Resistance levels:
R3: 141.43
R2: 141.03
R1: 140.74
Current spot: 140.45
S1: 139.59
S2: 138.61
S3: 137.99
Technical summary:
The red wave ii correction ended slightly before the ideal target at 142.64 (the high came in at 142.42). The powerful decline that followed the high at 142.42 confirms that red wave iii lower towards at least 139.59 is developing. However, we will be looking for a much deeper decline in red wave iii towards 137.99 as the most likely target for red wave iii.
In the short term we expect minor resistance at 140.74 will be able to protect the upside for the next part of the decline, but even if minor resistance at 140.74 is broken, strong resistance will be seen at 141.03 and this resistance should protect the upside without any problems.
Trading recommendation:
Stay short in EUR from 141.85 and lower your stop to 141.80. If you are not short in EUR yet, then sell EUR close to 140.74 with the same stop at 141.80.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: