empty
 
 
14.09.2015 05:26 AM
Elliott wave analysis of EUR/JPY for September 14, 2015

This image is no longer relevant

Technical summary:

A strong rally of 132.19 has continued. Now, it is testing the 70.7% corrective target at 137.02 (the high has been 137.05). This rally is extremely stretched and the correction towards at least 135.60 and likely even lower to 134.80 should be expected soon. In the short term, a break below minor support at 136.41 will be the first indication of a top being in place for a decline to 135.60.

Trading recommendation:

We will sell a break below 136.41 with stop placed at 137.10 and place take profit for 50% at 135.65

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