empty
 
 
20.09.2015 06:41 PM
Elliott wave analysis of EUR/JPY for September 21, 2015

This image is no longer relevant

Technical summary:

We have seen a nice a strong decline from a high of 137.43 and now we will be looking for a break below important support at 134.98, which will confirm that wave z is developing lower.

In the short term, we will see resistance at 136.13 protecting the upside for a decline towards 132.23 and lower towards 131.45.

Trading recommendation:

We are short EUR from 136.62. We will move our stop lower to 136.50. If you are short EUR yet, then sell near 136.10 with the same stop at 136.50.

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 $1000 more!
    In April we raffle $1000 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