empty
 
 
11.07.2016 08:00 AM
Elliott wave analysis of EUR/JPY for July 11 - 2016

This image is no longer relevant

Wave summary:

We expect minor resistance at 112.61 will be able to protect the upside for the next decline closer to the ideal downside target at 108.17 before the long-term correction from 149.56 is finally complete.

Even a small break above 112.61 will not change our expectation of one more decline closer to 108.17.

Trade recommendation:

Stay short and keep your stop at 112.65. If you are not short yet, then sell near 112.55 wil stop placed at 112.65.

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