Elliott wave analysis of EUR/JPY for March 11 – 2015
March 11, 2015 6:50 am
Technical summary:
The decline towards the ideal target at 125.98 unfolded as expected. In a short term, more downside bias should be seen after a minor setback towards 130.47 and even slightly higher to 131.25 before the next movement to 127.32 takes place. With a new low below the wave (iii) low at 130.14 all requirements to wave C has been fulfilled now and we should be aware of a bottom being in place at anytime now.
Trandig recommendation:
We are short EUR from 133.90 and will move our stop lower to 131.90. Look for the bottom to buy EUR.
The material has been provided by InstaForex Company – www.instaforex.com
Technical summary:
The decline towards the ideal target at 125.98 unfolded as expected. In a short term, more downside bias should be seen after a minor setback towards 130.47 and even slightly higher to 131.25 before the next movement to 127.32 takes place. With a new low below the wave (iii) low at 130.14 all requirements to wave C has been fulfilled now and we should be aware of a bottom being in place at anytime now.
Trandig recommendation:
We are short EUR from 133.90 and will move our stop lower to 131.90. Look for the bottom to buy EUR.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: