empty
 
 
12.02.2015 08:40 AM
Elliott wave analysis of EUR/JPY for February 12 - 2015
This image is no longer relevant

Technical summary:

As expected, after the break above 135.36, the correction from 130.14 has extended higher towards 137.65 as the ideal corrective target. In the short term, we are looking for a minor consolidation before the final rally higher towards the ideal corrective target to end wave (iv) and set the stage for the final decline lower to 125.98 to end the c wave of the expanded flat correction, that began at the 145.69 high in late December 2014.

Trading recommendation:

We are looking for a EUR selling opportunity at 137.55 and will place our stop at 138.90.

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