empty
 
 
25.06.2014 01:14 PM
Elliott wave analysis of EUR/JPY for June 25 - 2014

This image is no longer relevant

Today's Support and Resistance levels:

R3: 139.35

R2: 139.07

R1: 138.76

Current spot: 138.64

S1: 138.57

S2: 138.26

S3: 137.97

Technical summary:

We are still locked in a narrow range between 138.40 - 138.94. We still believe that resistance at 138.94 will protect the upside for a break below support at 138.40 and more importantly support at 138.24 that would call for a new decline to 137.72 and lower to 136.23.

Only a break above 138.94 will delay the decline for a move closer to 139.18 before moving lower.

Trading recommendation:

We are short in EUR from 138.555 with a stop at 139.55. If you are not short in EUR yet, then sell after a break below 138.40 with the same stop at 139.55.

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