empty
 
 
11.08.2017 06:58 AM
Elliott wave analysis of EUR/JPY for August 11, 2017

This image is no longer relevant

Wave summary:

EUR/JPY has declined from 129.55 towards 127.55 as expected. As long as minor resistance at 128.83 is able to cap the upside as long more downside pressure should be seen for the expected test of 127.55. Only a break above minor resistance at 128.83 will indicate that a new correction close to 129.55 is developing before renewed downside pressure should be seen.

R3: 129.55

R2: 129.04

R1: 128.83

Pivot: 128.50

S1: 128.17

S2: 127.55

S3: 126.90

Trading recommendation:

W are short EUR from 129.45. We will move our stop lower to 128.90 and keep our take-profit at 127.65.

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 $5000 more!
    In November we raffle $5000 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