empty
 
 
25.11.2020 07:15 AM
Elliott wave analysis of EUR/JPY for November 25, 2020

This image is no longer relevant

EUR/JPY continues to push higher towards the neckline resistance seen at 125.17 a break above here will trigger the S/H/S bottom for a continuation higher to the former peak at 127.02 and likely even closer to 129.06 and the next major upside target.

Short-term, we see support at 124.11 which ideally will be able to protect the downside for the expected push higher to test the neckline resistance.

R3: 125.17

R2: 124.74

R1: 124.50

Pivot: 124.34

S1: 124.11

S2: 123.90

S3: 123.67

Trading recommendation:

We are long EUR from 123.46 and we will move our stop to break-even at 123.46.

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 $9000 more!
    In May we raffle $9000 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