empty
 
 
03.03.2015 03:00 PM
Elliott wave analysis of EUR/JPY for March 3 - 2015
This image is no longer relevant

Technical summary:

Our dominant count is that the final decline in wave (v) currently is unfolding. A break below the minor support at 133.39 will support this count and will call for a decline towards the perfect target near 125.98. At this point only a break above the resistance at 134.60 and more importantly a break above resistance at 135.63 will invalidate the bearish count for a more complex correction in wave (iv).

Trading recommendation:

We are short EUR from 133.90 with a stop placed at 135.70. If you are not short EUR yet, then sell a break below 133.51 with stop placed at 134.65.

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