06.03.201506:49 Forex Analysis & Reviews: Elliott wave analysis of EUR/JPY for March 6 - 2015

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.

Technical summary:

A series of waves one's and two's has been developing, but should soon be offset with a series of waves three's and four's, which means the decline towards 125.98 will consist of small sharp dips followed by small corrections, but all the time moving lower towards the ideal target. At no point we should see a break above 133.59 as it will confuse the overall count, but only a break above 134.60 will invalidate the bearish count.

Trading recommendation:

We are short EUR from 133.90 and will lower our stop to 133.65. If you are not short EUR yet, then sell a break below 132.06 with the same stop at 133.65.

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.