empty
 
 
19.02.2019 08:15 AM
Elliott wave analysis of EUR/JPY for February 19, 2019

This image is no longer relevant

The complex correction in wave ii continues to use up time as it moves sideways. To break out of this deadlock, we need a clear break above minor resistance at 125.54 that will yield a rally higher to 125.95 on the way higher to 129.48 and ultimately towards 133.54.

Support is seen at 124.67 and key-support is at 124.38 a break below the later, will extend the correction in wave ii even more.

R3: 125.95

R2: 125.46

R1: 125.09

Pivot: 124.85

S1: 124.67

S2: 124.38

S3: 124.15

Trading recommendation:

We are long EUR from 124.65 with our stop placed at 124.15

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