empty
 
 
25.04.2017 10:14 AM
Elliott wave analysis of EUR/JPY for April 25б 2017

This image is no longer relevant

Wave summary:

We continue to look for more upside towards 120.62 and possibly even higher towards 121.92 to complete wave iii/. Wave iii/ should be followed by a shallow flat correction in wave iv/ and ideally hold above 118.88 for the next impulsive rally higher.

Longer term, we expect a rally to above 122.88 and 124.09 during this run higher.

R3: 121.92

R2: 120.62

R1: 120.16

Pivot: 120.00

S1: 119.61

S2: 119.35

S3: 118.88

Trading recommendation:

We are long EUR from 115.25 and we will move our stop higher to 118.50. If you are not long EUR yet, then buy a break above 120.16 and use the same stop at 118.50.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first 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 $1000 more!
    In April we raffle $1000 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

Can't speak right now?
Ask your question in the chat.
Widget callback