empty
 
 
01.02.2016 06:37 AM
Elliott wave analysis of EUR/JPY for February 1, 2016

This image is no longer relevant

Wave summary:

A very strong rally on Friday which took place after BOJ's decision to adopt the negative interest rate, looked impulsive and if a breakout above important resistance at 132.44 is seen, then we will change our preferred count to above. This count shows that an expanded flat correction we have been tracking since late December 2013 terminated at 126.05 in mid-April 2015 and was followed by an impulsive wave (i) to 141.04 and the decline from 141.04 to 126.14 was a very deep wave (ii). A breakout above 132.44 will call for wave (iii) higher to at least 150.16.

If, however resistance at 132.44 is able to protect the upside for renewed downside pressure, the very complex corrective corrective pattern could still be unfolding.

Trading recommendation:

We will await the outcome of the test of the resistance-line before making the next move.

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