For Traders

Analytical Reviews

Wave analysis

25.04.201806:27 Forex Analysis & Reviews: Elliott wave analysis of EUR/JPY for April 25, 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.

EUR/JPY rallied into the 133.54 – 133.68 area after all. Wave B should now be complete and wave C lower should soon take over for a decline to below 128.92 as wave C of (E) moves closer to at least 124.94.

In the short-term, a break below minor support at 132.59 will be the first good indication that the wave B has completed and the wave C is developing.

R3: 133.68

R2: 133.48

R1: 133.28

Pivot: 132.59

S1: 132.07

S2: 131.75

S3: 131.35

Trading recommendation:

We are short EUR from 132.85 with stop placed at 133.85.

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.