empty
 
 
09.06.2016 09:35 AM
Elliott wave analysis of EUR/JPY for June 9 - 2016

This image is no longer relevant

Wave summary:

EUR/JPY tried to break above resistance at 121.98 but failed. The risk has again turned to the downside for one more low just below 120.80 before the ending diagonal is completed. A new rally can be expected. A break below the minor support at 121.30 will confirm the final decline just below 120.80 before going higher again.

Trading recommendations:

We are long on the EUR from 121.75 and we will take our stop here at 121.38. A new buy order will be placed at 120.85 with the stop at 120.00.

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