Elliott wave analysis of EUR/JPY for June 30, 2014
June 30, 2014 8:30 am
Today’s Support and Resistance Levels:
R3: 138.78
R2: 138.60
R1: 138.46
Current Spot: 138.36
S1: 138.08
S2: 137.89
S3: 137.72
Technical Summary:
We are finally move lower from the strong resistance at 138.90 and we would like to see minor resistance at 138.46 protect the upside for a break below support at 138.08 confirming a new test of the 137.72 low on the way lower to 136.23.
A break above 138.46 will delay the downside for a move closer to 138.60, but the upside should be very limited from here.
Trading Recommendation:
We are short EUR from 138.55 and move stop lower to 139.00. If you are not short EUR yet, then sell near 138.46 or upon a break below 138.08, with the same stop at 139.00
The material has been provided by InstaForex Company – www.instaforex.com
Today’s Support and Resistance Levels:
R3: 138.78
R2: 138.60
R1: 138.46
Current Spot: 138.36
S1: 138.08
S2: 137.89
S3: 137.72
Technical Summary:
We are finally move lower from the strong resistance at 138.90 and we would like to see minor resistance at 138.46 protect the upside for a break below support at 138.08 confirming a new test of the 137.72 low on the way lower to 136.23.
A break above 138.46 will delay the downside for a move closer to 138.60, but the upside should be very limited from here.
Trading Recommendation:
We are short EUR from 138.55 and move stop lower to 139.00. If you are not short EUR yet, then sell near 138.46 or upon a break below 138.08, with the same stop at 139.00
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: