Elliott Wave analysis of EUR/JPY for January 6, 2014
January 6, 2014 8:15 amVideo
Latest News
- Analysis of EUR/USD on May 8th. Euro aims for the 1.5 figure May 8, 2024
- Analysis of GBP/USD on May 8th. The pound hits an important level May 8, 2024
- USD/JPY: Simple Trading tips for novice traders on May 8th (US session) May 8, 2024
- GBP/USD: Simple trading tips for novice traders on May 8th (US session) May 8, 2024
- EUR/USD: Simple trading tips for novice traders on May 8th (US session) May 8, 2024
- Trading Signals for CRUDE OIL (WIT) for May 8-15, 2024: buy above $78.12 (21 SMA – 2/8 Murray) May 8, 2024
- GBP/USD: trading plan for the US session on May 8th (analysis of morning deals). The pound was bought in the area of 1.2471 May 8, 2024
- EUR/USD: trading plan for the US session on May 8th (analysis of morning deals). No statistics, no movement May 8, 2024
- EUR/USD. May 8th. The market continues to rest against the background of an empty calendar May 8, 2024
- Technical Analysis – USDCAD enjoys renewed strength May 8, 2024
- Technical Analysis – US 500 index advances towards all-time high May 8, 2024
- GBP/USD. May 8th. The pound does not expect a rate cut by the Bank of England May 8, 2024
- Video market update for May 08, 2024 May 8, 2024
- Technical Analysis – EURJPY flirts with 167.00 again May 8, 2024
- Technical Analysis – WTI oil futures restart downtrend May 8, 2024
- Forex forecast 05/08/2024: EUR/USD, Oil, Gold and SP500 from Sebastian Seliga May 8, 2024
- Technical Analysis – GBPUSD pulls back after testing 50-day SMA May 8, 2024
- Market Comment – US dollar recovers, stocks’ rally stalls as market tries to find its footing May 8, 2024
- USD/JPY: trading tips for beginners for European session on May 8 May 8, 2024
- Weekly Technical Outlook: 08/05/2024 – USDJPY, GBPUSD, USDCAD May 8, 2024
Today’s Support and Resistance Levels:
R3: 142.36
R2: 142.03
R1: 141.83
Current Spot: 141.65
S1: 141.24
S2: 140.80
S3: 140.36
Technical Summary:
We now have a clear five wave decline from the high 145.69. Short-term we need a little more downside to end the five wave decline and we will be looking for a continuation lower towards 141.24 and likely closer to 140.80 before this first five wave decline come to an end. Once a low is in place we should be looking for a correction towards 142.67 and may be even to 143.82 before the next powerful decline.
Short-term look for minor resistance at 141.83 protecting the upside for the final decline towards 141.24 and may be even lower towards 140.80.
Trading Recommendation:
There was no room for a correction towards 143.15. We will buy EUR at 140.95 with a stop at 140.25.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: