Elliott wave analysis of EUR/JPY for June 19, 2015
June 19, 2015 7:10 am
Technical summary:
We are still looking for upside acceleration through the resistance-line near 142.73 confirming a continuation higher to 144.03 as the next major upside target. In the long term, we are still looking for much higher levels and a new test of a high of 149.55 hit in December 2014.
In the short term, we will ideally see support at 139.36 – 139.46, which is likely to protect the downside for a break above a high of 141.04 in order to test the resistance-line near 142.73.
Trading recommendation:
We are long EUR from 138.10 and will keep our stop at 138.75. If you are not long EUR yet, buy EUR near 139.46 or upon a break above 140.66 and use the same stop at 138.75
The material has been provided by InstaForex Company – www.instaforex.com
Technical summary:
We are still looking for upside acceleration through the resistance-line near 142.73 confirming a continuation higher to 144.03 as the next major upside target. In the long term, we are still looking for much higher levels and a new test of a high of 149.55 hit in December 2014.
In the short term, we will ideally see support at 139.36 – 139.46, which is likely to protect the downside for a break above a high of 141.04 in order to test the resistance-line near 142.73.
Trading recommendation:
We are long EUR from 138.10 and will keep our stop at 138.75. If you are not long EUR yet, buy EUR near 139.46 or upon a break above 140.66 and use the same stop at 138.75
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: