For Traders

Analytical Reviews

Wave analysis

24.01.201907:53 Forex Analysis & Reviews: Elliott wave analysis of EUR/JPY for February 24, 2019

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.

The longer EUR/JPY stays near short-term important resistance at 124.93 the higher the possibility for a push higher towards 126.59 as the next upside target on the way towards 132.12.

Short-term only a dip back below 124.37 will again open up for a deeper correction in wave ii towards 123.37 and maybe even closer to 122.70 to complete wave ii.

R3: 126.59

R2: 125.81

R1: 125.19

Pivot: 124.93

S1: 124.55

S2: 124.10

S3: 123.72

Trading recommendation:

We will buy EUR at 123.00 or upon a break above 124.93

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.