You are here: Home > articles > Elliott Wave > Elliott wave analysis of EUR/JPY for October 23, 2015
Elliott wave analysis of EUR/JPY for October 23, 2015
October 23, 1948 1:45 pmVideo
Latest News
- Forecast for EUR/USD on April 12, 2024 April 12, 2024
- Forecast for GBP/USD on April 12, 2024 April 12, 2024
- Forecast for AUD/USD on April 12, 2024 April 12, 2024
- Outlook for GBP/USD on April 12. The pound once again failed to leave the same range April 12, 2024
- Outlook for EUR/USD on April 12. New ECB meeting April 12, 2024
- The market is disappointed and softening expectations for the FOMC rate April 12, 2024
- Christine Lagarde: inflation is easing April 12, 2024
- ECB threw a lifeline to the euro April 11, 2024
- Technical Analysis – ETHUSD finds support at 50-day SMA April 11, 2024
- Trading Signals for GOLD (XAU/USD) for April 11-15, 2024: buy above $2,345 (6/8 Murray – symmetrical triangle) April 11, 2024
- EUR/USD: trading scenarios on April 11, 2024 April 11, 2024
- Analysis and trading tips for USD/JPY on April 11 (US session) April 11, 2024
- Analysis and trading tips for GBP/USD on April 11 (US session) April 11, 2024
- Analysis and trading tips for EUR/USD on April 11 (US session) April 11, 2024
- Technical Analysis – USDCAD surges to new almost 5-month high April 11, 2024
- Technical Analysis – EURGBP’s double bottom still waits for confirmation April 11, 2024
- Technical Analysis – US 30 index slides below 50-day SMA April 11, 2024
- Video market update for April 11, 2024 April 11, 2024
- EUR/USD. April 11th. Fed minutes: inflation concerns persist April 11, 2024
- GBP/USD. April 11th. The US inflation report shocked the bulls April 11, 2024
Wave summary:
A decline from 136.39 is clearly impulsive and has all the earmarks of a third wave decline. It is almost vertical and very strong, which is exactly what we would be looking for in wave 3.
An ideal target for wave iii is seen at 132.98 where wave iii will be 161.8% of wave i, but wave iii could extend even more. Then, the next downside target would be found at the 200% extension target at 132.17.
Resistance is now seen at the former Triangle support line near 134.30 and again at 134.59.
Trading recommendation:
We are short EUR from 135.95 and will move our stop lower to 134.85 locking in a nice profit. If you are not short EUR yet, sell near 134.59 if seen or upon a break below minor support at 133.94 and use the same stop at 134.85.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: