empty
 
 
16.06.2020 07:11 AM
Elliott wave analysis of EUR/JPY for June 16, 2020

This image is no longer relevant

The correction from 121.82 completed with a dip to 120.31 before starting to rally higher to break above the minor peak at 121.82. We should expect support near 121.47 being able to protect the downside for the next push higher towards 122.50 and 123.49 on the way higher to the next upside target at 125.76.

The push to 125.76 should complete wave iii and set the stage for a new larger correction. However, our focus should remain on the upside.

R3: 123.49

R2: 122.87

R1: 122.50

Pivot: 121.85

S1: 121.70

S2: 121.47

S3: 120.97

Trading recommendation:

We are long EUR from 120.90 and we will move our stop higher to 120.25

Torben Melsted,
Analytical expert of InstaForex
© 2007-2025
Summary
Urgency
Analytic
Torben Melsted
Start trade
通过InstaForex赚取加密货币汇率变动的收益。
下载MetaTrader 4并开启您的第一笔交易。
  • 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 $6000 more!
    In December we raffle $6000 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
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

推荐文章

现在无法通话?
提出您的问题,用 在线帮助.
Widget callback