empty
 
 
05.06.2015 09:24 AM
Elliott wave analysis of EUR/JPY for June 5 - 2015

This image is no longer relevant

Technical summary:

The base channel resistance line has caused a minor correction. We would like to see a slightly deeper correction from 141.06, but we also know that the correction in the third wave tends to be small or even sub-normal. So, we do not expect too much before the next successful break takes place above the base channel resistance line for a continuation higher to 144.03 on the way higher to 150.77.

Ideally, we will see a correction down to 138.03 before higher.

Trading recommendation:

We will buy EUR at 138.15 or upon a break above resistance at 140.92 with a stop placed at 136.25

Summary
Urgency
Analytic
Torben Melsted
Start trade
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 $6000 more!
    In December we raffle $6000 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
  • 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