empty
 
 
25.05.2016 09:09 AM
Elliott wave analysis of EUR/JPY for May 25, 2016

This image is no longer relevant

Wave summary:

The sideways consolidation in the 122.30 - 122.80 area has been prolonged, but we still expect one more spike lower to the ideal target near 122.12 before the correction from 124.35 is over and a new impulsive rally towards 126.47 and above should be expected.

In the short term, a break below minor support at 122.48 will confirm the final decline to 122.12 before higher again.

Trading recommendation:

We will buy EUR at 122.20 or upon a break above 122.79 with stop placed at 121.45.

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 $9000 more!
    In May we raffle $9000 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