empty
 
 
25.07.2022 06:11 AM
Elliott wave analysis of EUR/JPY for July 25, 2022

This image is no longer relevant

Let us take a step back and look at the larger picture today. EUR/JPY broke above the triangle resistance line back in December 2020 confirming the completion of a 12-year triangle formation in wave [B] and wave [C] was in motion towards at least 173.00 and possibly higher.

The rally after the break above the triangle resistance line hasn't been that clear and can best be described as an expanding leading diagonal. We should expect a temporary setback to support near 133.00 before the next rally higher towards 149.79 and above.

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