Elliott wave analysis of EUR/JPY for November 9 – 2015
November 9, 2015 7:20 am
Wave summary:
The correction we are looking for towards 133.55 continues to unfold as expected. Once the 133.55 target is reached a turn lower should be expected for a decline and a break below support at 131.46 for a continuation lower to 129.21 and most likely even lower to 124.43.
In the short term, we will ideally see support at 132.44 hold for a rally towards 133.55, but only a break below support at 132.09 will confuse the picture.
Trading recommendation:
Sell EUR at 133.50 and place stop at 133.95.
The material has been provided by InstaForex Company – www.instaforex.com
Wave summary:
The correction we are looking for towards 133.55 continues to unfold as expected. Once the 133.55 target is reached a turn lower should be expected for a decline and a break below support at 131.46 for a continuation lower to 129.21 and most likely even lower to 124.43.
In the short term, we will ideally see support at 132.44 hold for a rally towards 133.55, but only a break below support at 132.09 will confuse the picture.
Trading recommendation:
Sell EUR at 133.50 and place stop at 133.95.
The material has been provided by InstaForex Company – www.instaforex.com
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