Elliott wave analysis of EUR/JPY for June 26 – 2014
June 26, 2014 9:55 am
Today’s Support and Resistance levels:
R3: 139.35
R2: 139.07
R1: 138.78
Current spot: 138.71
S1: 138.57
S2: 138.27
S3: 137.97
Technical summary:
Not much to add here. We are still hoovering just below improtant resistance at 138.90 and as long as this resistance protects the upside, we will be looking for a break below support at 138.28 to confirm the next impulsive decline towards 136.23.
However, the risk remains a break above 138.90 for a slight continuation higher to 139.18 before lower.
Trading recommendation:
We remain short in EUR from 138.55 with stop at 139.55. If you are not short in EUR yet, then sell after a break below 138.28 with the same stop.
The material has been provided by InstaForex Company – www.instaforex.com
Today’s Support and Resistance levels:
R3: 139.35
R2: 139.07
R1: 138.78
Current spot: 138.71
S1: 138.57
S2: 138.27
S3: 137.97
Technical summary:
Not much to add here. We are still hoovering just below improtant resistance at 138.90 and as long as this resistance protects the upside, we will be looking for a break below support at 138.28 to confirm the next impulsive decline towards 136.23.
However, the risk remains a break above 138.90 for a slight continuation higher to 139.18 before lower.
Trading recommendation:
We remain short in EUR from 138.55 with stop at 139.55. If you are not short in EUR yet, then sell after a break below 138.28 with the same stop.
The material has been provided by InstaForex Company – www.instaforex.com
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