Elliott wave analysis of EUR/JPY for November 13, 2017

analytics5a093dc59d6d9.png

Wave summary:

We continue to look for a move closer to resistance at 133.15 to complete wave ii and set the stage for a strong decline in wave iii towards 128.36.

A clear break below support at 131.60 will confirm that wave (E) is developing towards the ideal target seen at 123.43.

R3: 133.15

R2: 132.84

R1: 132.50

Pivot: 132.00

S1: 131.60

S2: 131.47

S3: 131.36

Trading recommendation:

Our stop at 132.30 was hit for a small profit of 29 pips. We will sell EUR at 133.10

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

Source:: Elliott wave analysis of EUR/JPY for November 13, 2017

Won't your trader friends like this?
InstaForex
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

*