empty
 
 
09.08.2019 06:38 AM
Elliott wave analysis of EUR/JPY for August 9 - 2019

This image is no longer relevant

EUR/JPY failed to break back above minor resistance at 119.36 which turned into a new downside pressure with a new low at 118.32. With the 61.8% corrective target, EUR/JPY is ready to challenge the upside again, but we need a break above minor resistance at 119.37 and more importantly, a break above 119.36 to confirm that the corrective downside pressure is complete and a new impulsive rally higher to 122.02 is developing.

R3: 120.70

R2: 120.33

R1: 119.88

Pivot: 119.36

S1: 118.54

S2: 118.32

S3: 118.03

Trading recommendation:

We are long EUR from 118.95 with our stop placed at 118.30

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $6000 more!
    In December we raffle $6000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback