For Traders

Analytical Reviews

Technical analysis

25.06.201209:31 Forex Analysis & Reviews: Elliott wave analysis of EUR/JPY for July 2, 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:

We are still awaiting a break above minor resistance at 138.68 to confirm continuation higher to 141.06 and 144.03. In the short term, minor support at 136.08 will ideally protect the downside for a break above 138.68, but only a break below support at 133.07 will question the uptrend from 126.05.

In the long term, we continue to look for a rally above a high of 149.55 hit in December 2014.

Trading recommendation:

We will only buy EUR upon a break above 138.68.

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.