Elliott wave analysis of EUR/JPY for September 19 – 2014
September 19, 2014 10:45 am
Today’s support and resistance levels:
R3: 141.21
R2: 140.71
R1: 140.35
Current spot: 140.24
S1: 140.01
S2: 139.84
S3: 139.62
Technical summary:
The expected rally towards 143.79 is unfolding perfectly and we will now be looking for support near 139.84 for the next rally higher towards 143.79. In the short term, a break above minor resistance at 140.83 will confirm the next rally higher to 142.38 on the way higher to strong important resistance at 143.79. Only a break above 143.79 confirms, that we should expect much more upside.
Trading recommendation:
We are long in EUR from 135.95 with stop place at 138.50. If you are not long in EUR yet, then buy near 139.84 with the same stop at 138.50.
The material has been provided by InstaForex Company – www.instaforex.com
Today’s support and resistance levels:
R3: 141.21
R2: 140.71
R1: 140.35
Current spot: 140.24
S1: 140.01
S2: 139.84
S3: 139.62
Technical summary:
The expected rally towards 143.79 is unfolding perfectly and we will now be looking for support near 139.84 for the next rally higher towards 143.79. In the short term, a break above minor resistance at 140.83 will confirm the next rally higher to 142.38 on the way higher to strong important resistance at 143.79. Only a break above 143.79 confirms, that we should expect much more upside.
Trading recommendation:
We are long in EUR from 135.95 with stop place at 138.50. If you are not long in EUR yet, then buy near 139.84 with the same stop at 138.50.
The material has been provided by InstaForex Company – www.instaforex.com
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