empty
 
 
You are about to leave
www.instaforex.eu >
a website operated by
INSTANT TRADING EU LTD
Open Account

14.02.202007:41 Forex Analysis & Reviews: Elliott wave analysis of EUR/JPY for February 14, 2020

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.

Exchange Rates 14.02.2020 analysis

EUR/JPY is now testing the lower part of our target zone between 118.85 - 119.24 and we see a clear loss of downside momentum. To indicate that a bottom could be in place, we need a break above 119.15 and more important a break above resistance at 119.90 that confirms wave iv is complete and v to above 122.88 is developing.

As long as minor resistance at 119.15 stays intact, we could see more downside pressure, but the potential downside from here should be limited.

R3: 119.75

R2: 119.58

R1: 119.49

Pivot: 119.15

S1: 118.85

S2: 118.78

S3: 118.55

Trading recommendation:

We are long EUR from 119.35 and we have our stop placed at 118.35

Torben Melsted
Analytical expert of InstaForex
© 2007-2024

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.




You are now leaving www.instaforex.eu, a website operated by INSTANT TRADING EU LTD
Can't speak right now?
Ask your question in the chat.

Turn "Do Not Track" off