Elliott wave analysis of EUR/JPY for February 22, 2019
February 22, 2019 7:21 am
Our bullish bias remains firmly in place, for a break above resistance at 125.95 for a continuation towards 128.31 on the way higher to 129.46 and the 161.8% extension target at 133.54.
Trading the last 24 hours has be non eventful as a sideways consolidation between 125.33 and 125.95 is dragging on. It should just be a matter of time before the underlying bullish trend is resumed for a break above 125.95.
Support is seen at 125.33 and again at 124.74
R3: 127.03
R2: 126.53
R1: 125.95
Pivot: 125.33
S1: 124.74
S2: 124.15
S3: 123.90
Trading recommendation:
We are long EUR from 124.65 with our stop placed at break-even at 124.65.
The material has been provided by InstaForex Company – www.instaforex.com
Our bullish bias remains firmly in place, for a break above resistance at 125.95 for a continuation towards 128.31 on the way higher to 129.46 and the 161.8% extension target at 133.54.
Trading the last 24 hours has be non eventful as a sideways consolidation between 125.33 and 125.95 is dragging on. It should just be a matter of time before the underlying bullish trend is resumed for a break above 125.95.
Support is seen at 125.33 and again at 124.74
R3: 127.03
R2: 126.53
R1: 125.95
Pivot: 125.33
S1: 124.74
S2: 124.15
S3: 123.90
Trading recommendation:
We are long EUR from 124.65 with our stop placed at break-even at 124.65.
The material has been provided by InstaForex Company – www.instaforex.com
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