Elliott wave analysis of EUR/JPY for June 16, 2017 888011000 110888 Wave summary: EUR/JPY got assistance at 122.53 for a dip to 122.37. This minor break listed below 122.53 was enough to change the restorative pattern unfolding from 125.82. Instead of a triangle combination, the restorative pattern has actually developed into a flat correction with wave B complete with the test of 122.37 and wave C greater to a minimum of 133.34 nowdeveloping. Short-term, we will likely seeresistancenear 124.05holding fora minor set-back to 123.00 before strongly higher. R3: 124.71 R2: 124.40 R1: 124.05 Pivot: 123.75 S1: 123.50 S2: 123.19 S3: 123.00 Trading recommendation : Our stop at 122.45 was hit for a loss of 50 pips. We will purchase EUR once again at 123.25 or upon a break above 124.50. The product has been offered by InstaForex Business-www.instaforex.com

Leave a Reply

Your email address will not be published.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