empty
 
 
13.03.2019 08:27 AM
Elliott wave analysis of EUR/JPY for March 13, 2019

This image is no longer relevant

EUR/JPY seems to have reeached the bottom and it is moving higher again towards the channel-top near 127.75 and a break above this channel-top is ultimately expected for upside acceleration closer to the 161.8% extension target at 133.54.

Key support is seen at 124.25 and only an unexpected break below here will invalidate our bullish outlook and shift our preferred count.

R3: 126.92

R2: 126.53

R1: 125.86

Pivot: 125.23

S1: 124.78

S2: 124.45

S3: 124.25

Trading recommendation:

We are long EUR from 124.80 and we will keep out stop+revers at 124.15.

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