empty
 
 
21.12.2015 06:52 AM
Elliott wave analysis of EUR/JPY for December 21, 2015

This image is no longer relevant

Wave summary:

A big question is of cause whether wave (ii) ended at 134.59? We do think that the time-span for wave (ii) was rather short in comparison to wave (i), so ideally we will see more correction in wave (ii) closer to 135.97, where wave c is equal to wave a in length. That said, we have to be aware of the possibility that wave (ii) could already have terminated at 134.59 and wave (iii) lower towards at least 123.21 is unfolding. If wave (ii) has already terminated a breakout below support at 129.69 should be seen soon.

Trading recommendation:

We will buy on a breakout above 131.93 and place our stop at 130.93 for a rally towards 135.97

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