For Traders

Analytical Reviews

Wave analysis

25.09.201707:21 Forex Analysis & Reviews: Elliott wave analysis of EUR/JPY for September 25, 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:

As long as support at 133.24 is able to protect the downside, we will keep our focus towards the upside for a continuation higher towards 134.80 and 136.14 on the way towards the ideal wave D target at 137.36.

From 137.36 or upon a direct break below support at 133.24 a zig-zag decline in wave E will be expected to complete the huge triangle consolidation, that has been developing since July 2008.

R3: 136.14

R2: 134.80

R1: 134.41

Pivot: 134.00

S1: 133.24

S2: 132.94

S3: 132.61

Trading recommendation:

We are long EUR from 131.76 with stop placed at 133.15. We will take half profit at 134.80.

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.