empty
 
 
29.10.2018 08:07 AM
Elliott wave analysis of EUR/JPY for October 29, 2018

This image is no longer relevant

We believe wave A completed with the test of 126.64 and wave B towards 130.20 and maybe closer to 130.65 no is developing. Short-term, we see support in the 127.05 - 127.21 area for a break above minor resistance at 127.75 and more importantly a break above resistance at 128.44 that confirms wave A has completed and wave B is developing for a return to 130.20 and maybe even closer to 130.65.

R3: 128.87

R2: 128.44

R1: 128.00

Pivot: 127.75

S1: 127.42

S2: 127.21

S3: 127.05

Trading recommendation:

We will buy EUR at 127.15 or upon a break above 127.75 and place our stop at 126.50.

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 $9000 more!
    In May we raffle $9000 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