Elliott wave analysis of EUR/JPY for February 28, 2017 888011000 110888 Wave summary: Ideally wave (iv )finished with the test of 118.19 and wave(v)to above 124.09 should now be seen, but we need a break above resistance seen at 119.86 to confirm that wave (iv) has actually finished and wave(v)higher is unfolding. Short-term support is seen at 118.55and after that at118.19. The later can not be broken under this bullish count.R3: 120.32 R2: 119.86 R1: 119.47 Pivot: 118.75 S1: 118.55 S2: 118.19 S3: 118.00 Trading recommendation: Purchase a break above 119.86 and put your stop at 118.10. The material has actually been supplied by InstaForex Company-www.instaforex.com

Wave summary: Ideally wave (iv )completed with the test of 118.19 and wave (v )to above 124.09 ought to now be seen, however we need a break above resistance seen at 119.86 to confirm that wave (iv) has actually completed and wave (v) greater is unfolding. Short-term support is seen at 118.55 and after that at 118.19. The later can not be broken under this bullish count.R3: 120.32

R2: 119.86

R1: 119.47

Pivot: 118.75

S1: 118.55

S2: 118.19

S3: 118.00

Trading recommendation:

Purchase a break above 119.86 and place your stop at 118.10.

The product has been provided by InstaForex Business – www.instaforex.com

Leave a Reply

Your email address will not be published. Required fields are marked *