empty
 
 
20.05.2020 06:47 AM
Elliott wave analysis of EUR/JPY for May 20, 2020

This image is no longer relevant

EUR/JPY has finally rallied. The pair may reach the 161.8% target for wave iii/ at 119.31. in the short-term, we will see some GO-Stop action in play as the final waves four and five sub-waves will complete wave iii/ at 119.31.

Short-term support is seen in the 117.37 - 117.48 support-zone which is expected to protect the downside for the next push higher to 119.31.

R3: 119.31

R2: 119.00

R1: 118.67

Pivot: 118.20

S1: 117.80

S2: 117.48

S3: 117.24

Trading recommendation:

We are long EUR from 115.65 and we will move our stop higher to 116.00

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback