Elliott wave analysis of EUR/JPY for February 14, 2018
February 14, 2018 6:22 am
Wave summary:
There’s nothing new to add here. We continue to look for a spike closer to the resistance in the 134.73 – 135.38 area to complete an X-wave and turn prices lower again for a decline to the strong support near 131.20.
That said, we are painfully aware of the possibility, that EUR/JPY will continue directly lower to the support near 131.20 before a larger sideways correction should be expected.
R3: 133.79
R2: 133.36
R1: 132.92
Pivot: 132.63
S1: 132.33
S2: 131.96
S3: 131.70
Trading recommendation:
We are looking for a new selling opportunity and will sell EUR at 134.50.
The material has been provided by InstaForex Company – www.instaforex.com
Wave summary:
There’s nothing new to add here. We continue to look for a spike closer to the resistance in the 134.73 – 135.38 area to complete an X-wave and turn prices lower again for a decline to the strong support near 131.20.
That said, we are painfully aware of the possibility, that EUR/JPY will continue directly lower to the support near 131.20 before a larger sideways correction should be expected.
R3: 133.79
R2: 133.36
R1: 132.92
Pivot: 132.63
S1: 132.33
S2: 131.96
S3: 131.70
Trading recommendation:
We are looking for a new selling opportunity and will sell EUR at 134.50.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: