empty
 
 
29.08.2014 12:34 PM
Elliott wave analysis of EUR/JPY for August 29, 2014

This image is no longer relevant

Today's support and resistance levels:

R3: 137.29

R2: 137.05

R1: 136.81

Current spot: 136.61

S1: 136.36

S2: 136.06

S3: 135.73

Technical summary:

We have finally seen the expected break below short-term important support at 136.81, which ideally will protect the upside now; but only a break above resistance at 137.29 will cause concern. We are still looking for a decline to 135.73 on the way lower to the equality target at 134.34, from where a new rally is expected. We also have to say, that the decline from 138.00 is not as pretty as we could have wished for, but no unexpected events have occurred to cause concern.

Trading recommendation:

We are short in EUR from 137.75 and will move our stop lower to 137.35. If you are not short in EUR yet, the sell near 136.81 with stop placed at 137.35.

Torben Melsted,
Analytical expert of InstaForex
© 2007-2026
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 $10000 more!
    In January we raffle $10000 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