empty
 
 
28.01.2014 11:25 AM
Elliott Wave Analysis of EUR/JPY for January 28, 2014

This image is no longer relevant

Today's Support and Resistance levels:

R3: 141.43

R2: 141.03

R1: 140.70

Current Spot: 140.44

S1: 140.12

S2: 139.68

S3: 139.15

Technical summary:

As expected the resistance in the 140.50 - 140.78 (the high has been 140.70) protected the upside, but we still need a break below support at 139.68 to confirm that a top is in place and the next strong impulsive wave lower is developing. As long as support at 140.13 stays unbroken we could see a move slightly higher towards 140.78 before lower.

In the short term a break below 140.13 will be the first indication that the next powerful decline is developing, while a break below 139.68 confirms the top for a decline towards 135.39.

Trading recommendation:

Stay short in EUR from 141.85 with stop at 141.80. If you are not short in EUR yet, then sell EUR near 140.78 or upon a break below 140.13 with the same stop at 141.80.

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