Elliott wave analysis of EUR/JPY for February 21, 2018

analytics5a8cfac325cd7.png

Wave Summary:

EUR/JPY is finally moving higher towards the expected target area between 134.73 – 135.36 from where a new strong decline towards 129.30 and 127.52 should be seen on the way towards the ideal (E) target at 123.43.

R3: 134.18

R2: 133.79

R1: 133.34

Pivot: 132.85

S1: 132.60

S2: 132.38

S3: 132.07

Trading recommendation:

We are long EUR from 132.70, and we will move our stop higher to 132.00 and keep our take profit at 134.50.

The material has been provided by InstaForex Company – www.instaforex.com

Source:: Elliott wave analysis of EUR/JPY for February 21, 2018

About the Author
InstaForex brand was created in 2007 and at the moment it’s a top choice of more than 2,000,000 traders. More than 1,000 clients open accounts with InstaForex every day. All InstaForex clients get great opportunities for effective trading on the forex market, as well as on-time technical and customer support

Leave a Reply

*