For Traders

Analytical Reviews

Wave analysis

27.02.201716:03 Forex Analysis & Reviews: Elliott wave analysis of EUR/JPY for February 27, 2017

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.

Wave summary:

The corrective decline in wave (iv) have pushed even lower than expected. The low has been seen at 118.19 and it will take a break above resistance seen at 119.51 to indicate that the correction is complete, while a break above resistance at 119.86 will confirm that wave (v) has taken over for the final rally in wave (v) of 3 to above 124.09.

R3: 120.32

R2: 119.80

R1: 119.51

Pivot: 118.95

S1: 118.60

S2: 118.19

S3: 117.60

Trading recommendation:

Buy a break above 119.51 and place stop at 118.15.

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.