empty
 
 
26.01.2018 06:29 AM
Elliott wave analysis of EUR/JPY for January 26, 2018

This image is no longer relevant

Wave summary:

We did see another run to the 136.30 resistance level and do expect a new attack on important support near the mark of 135.00. This support still needs to be broken clearly to confirm that the wave (D) is completed at 136.63 and the wave (E) lower is developing, with the first minor target seen at 131.11.

In the longer term, a decline to 123.43 is expected to complete the huge triangle consolidation that has been developing since July 2008.

R3: 1.36.64

R2: 136.30

R1: 135.95

Pivot: 135.40

S1: 135.00

S2: 134.78

S3: 134.37

Trading recommendation:

We are short EUR from 134.75 with our stop placed at 136.75.

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