For Traders

Analytical Reviews

Wave analysis

15.02.201807:52 Forex Analysis & Reviews: Elliott wave analysis of EUR/JPY for February 15, 2018

Long-term review

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Wave summary

The corrective structure is turning more complex, but we continue to look for a spike into the 134.73 - 135.35 target area, before the next larger decline to 131.20 on the way lower to the ideal (E) wave target at 123.43.

In the short term, a break above the minor resistance at 133.39 confirms that the expected rally higher into the 134.73 - 135.35 area is developing.

R3: 134.17

R2: 133.79

R1: 133.39

Pivot: 132.45

S1: 131.60

S2: 131.20

S3: 130.56

Trading recommendation:

We will buy EUR here at 132.76 and place our stop at 131.50. Take profit will be placed at 134.50.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.