empty
 
 
31.05.2016 08:05 AM
Elliott wave analysis of EUR/JPY for May 31 - 2016

This image is no longer relevant

Wave summary:

We continue to look for more upside progress after a minor consolidation between 123.50 and 124.15 with the next minor upside target to look for seen at 124.65, and above here the important short-term resistance at 126.47 will be the target. To confirm that a long-term bottom has been seen, as we expect, at 121.46, a break above resistance at 126.47 will be needed.

Trading recommendation:

We are long from 122.80, and we will move our stop higher to break-even. If you are not long in EUR yet, then buy near 123.50 or upon a break above 124.14 and use the same stop at 122.80.

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