empty
 
 
25.07.2022 06:11 AM
Elliott wave analysis of EUR/JPY for July 25, 2022

This image is no longer relevant

Let us take a step back and look at the larger picture today. EUR/JPY broke above the triangle resistance line back in December 2020 confirming the completion of a 12-year triangle formation in wave [B] and wave [C] was in motion towards at least 173.00 and possibly higher.

The rally after the break above the triangle resistance line hasn't been that clear and can best be described as an expanding leading diagonal. We should expect a temporary setback to support near 133.00 before the next rally higher towards 149.79 and above.

Torben Melsted,
Analytical expert of InstaForex
© 2007-2023
EURJPY
Euro vs Japanese Yen
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Start trade
Start 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 $8000 more!
    In March we raffle $8000 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

GBP/USD. Analysis for March 28, 2023

The wave analysis for the pound/dollar pair currently appears to be challenging but does not call for any clarifications. There are some distinctions between the wave patterns of the euro

Chin Zhao 20:10 2023-03-28 UTC+2

EUR/USD. Analysis for March 28, 2023

The last upward wave has caused more confusion with the wave analysis on the 4-hour chart for the euro/dollar pair. Given that the previous downward segment can be viewed

Chin Zhao 19:14 2023-03-28 UTC+2

Elliott wave analysis of UNG for March 28, 2023

Our proxy for Natural Gas, UNG, made a new lower low yesterday opening for a move closer to 6.00 as long as resistance at 7.88 is able

Torben Melsted 07:06 2023-03-28 UTC+2

Elliott wave analysis of USD/JPY for March 28, 2023

USD/JPY continues to push lower as we expected. After a temporary relief rally to resistance at 131.66, renewed downside pressure has commenced and we expect to see support at 129.38

Torben Melsted 07:01 2023-03-28 UTC+2

GBP/USD. Analysis for March 27, 2023

The wave analysis for the pound/dollar pair now appears challenging, but it does not call for any clarifications. The wave patterns for the euro and the pound differ

Chin Zhao 19:05 2023-03-27 UTC+2

EUR/USD. Analysis for March 27, 2023

The wave analysis of the 4-hour chart for the euro/dollar pair continues to get confused due to the last upward wave. Given that the previous downward segment can be viewed

Chin Zhao 18:35 2023-03-27 UTC+2

Elliott wave analysis of EUR/JPY for March 27, 2023

Looking at the decline from 145.56 towards the ideal target at 133.43 is like looking at an avalanche moving in slow-motion. EUR/JPY is moving lower two steps and giving

Torben Melsted 06:13 2023-03-27 UTC+2

Elliott wave analysis of EUR/USD for March 27, 2023

EUR/USD is correcting the first impulsive advance from 1.0516 to 1.0930. We have already seen the 50% corrective target at 1.0723 being tested and we could see the 61.8% corrective

Torben Melsted 06:08 2023-03-27 UTC+2

Elliott wave analysis of USD/JPY for March 24, 2023

USD/JPY continues to move lower as we expected and should continue to follow the path lower for the coming weeks/months. We see support near 129.85 and would not be surprised

Torben Melsted 07:30 2023-03-24 UTC+2

GBP/USD. Analysis for March 23. The meeting of the Bank of England was missed by the market

The wave analysis for the pound/dollar pair now appears to be challenging but does not call for any clarifications. The wave patterns for the euro and the pound differ somewhat

Chin Zhao 18:24 2023-03-23 UTC+2
现在无法通话?
提出您的问题,用 在线帮助.