Elliott wave analysis of EUR/JPY for February 2, 2018 888011000 110888 < imgwidth=”450″ src= “http://qkfx.com/wp-content/uploads/2018/02/elliott-wave-analysis-of-eur-jpy-for-february-2-2018.png “alt =”analytics5a73f717c0ffc.png “/ > Wave summary: Our concern that the absence of disadvantage pressure following the break below 135.00 could lead to a last spike greater to the original( D)wave target at 137.37 has been verified by the break above 136.30. In the short term a break back below assistance at 136.60 will indicate that the wave(D)could havefinished,while a break listed below assistance at 135.93 will confirm thatthis is the case and the wave(E)now isdeveloping for a decrease towards 123.43. R3: 138.65 R2: 137.93 R1: 137.37 Pivot: 136.60 S1: 136.28 S2: 135.93 S3: 135.66 Trading recommendation: Our short position from 134.75 was stopped out at 136.50. We will sell EUR again at 137.30 or upon a break listed below 136.60. The material has been provided by InstaForex Company-www.instaforex.com

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