Thread: Instaforex Analysis
Threaded View
-
17-05-21, 09:37 #11Veteran Member Just starting here
- Join Date
- Jun 2013
- Age
- 38
- Posts
- 4,044
- Rep Power
- 0
Forex Analysis & Reviews: Elliott wave analysis of EUR/JPY for May 17, 2021
EUR/JPY is in the final leg higher to the 133.66 target from where we should expect a correction in wave 4/ towards at least 130.82 and likely even closer to the 38.2% corrective target seen at 129.06. In the short term, a break below minor support at 132.00 will indicate that wave 3/ is complete and wave 4/ lower to support in the 129.06 - 130.82 area is in motion before rising higher again in wave 5/ towards 137.19.
Trading recommendation:
Sell long positions in EUR/JPY near 133.66 or upon a break below 132.00 and look for a new buying opportunity near 129.06
Analysis are provided by InstaForex
Similar Threads
-
Forex News from InstaForex
By InstaForex Gertrude in forum Advertisement PlaceReplies: 2103Last Post: 16-02-24, 10:27 -
Forex Technical & Market Analysis FXCC
By alayoua in forum Advertisement PlaceReplies: 4Last Post: 07-07-16, 00:25 -
Weekly technical analysis for 3 - 7.12, 2012
By bellalca in forum Affiliate program networksReplies: 0Last Post: 04-12-12, 07:09
Bookmarks