For Traders

Analytical Reviews

Wave analysis

19.06.201707:13 Forex Analysis & Reviews: Elliott wave analysis of EUR/JPY for June 19, 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:

EUR/JPY has rallied nicely and in a clear impulsive character indicating more upside pressure to come. That said, short-term we might need a deeper correction from 124.46 closer to the 123.17 - 123.45 area before the next impulsive upswing towards 125.82 and above.

R3: 125.10

R2: 124.71

R1: 124.46

Pivot: 124.00

S1: 123.99

S2: 123.45

S3: 123.17

Trading recommendation:

We will buy EUR again at 123.25 or upon a break above 124.46.

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.