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27.06.201608:22 Forex Analysis & Reviews: Elliott wave analysis of EUR/JPY for June 27 - 2016

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.

Exchange Rates 27.06.2016 analysis

Wave summary:

We continue to look for more downside closer to 107.87 to complete wave iii and set the stage for a complex but shallow correction in wave iv.

In the short term, we will ideally see minor resistance at 112.60 protect the upside for more downside pressure towards the ideal target for wave iii at 107.87.

Trading recommendation:

Sell EUR upon a break below support at 111.58 with stop placed at 113.35 and take profit at 108.10.

Torben Melsted
Analytical expert of InstaForex
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