empty
 
 
29.03.2017 12:01 PM
Elliott wave analysis of EUR/JPY for March 29, 2017

This image is no longer relevant

Wave summary:

Once again the pair failed to break above important short-term resistance seen near 120.34. This resistance needs to be cleared to confirm that wave ii has completed and wave iii higher is developing for a rally to above 122.88.

Support is now seen near 119.55 and will ideally be able to protect the downside for the next attempt to break above 120.34.

R3: 121.84

R2: 120.75

R1: 120.39

Pivot: 120.00

S1: 119.77

S2: 119.55

S3: 119.28

Trading recommendation:

We are long EUR from 119.65 with stop placed at 119.20. If you are not long EUR yet, then buy a break above 120.39 and use the same stop at 119.20.

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 $1000 more!
    In April we raffle $1000 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