empty
 
 
15.01.2019 07:49 AM
Elliott wave analysis of EUR/JPY for January 15, 2019

This image is no longer relevant

EUR/JPY once again failed to break clearly above resistance at 124.86 and looks to have lost upside momentum. This mean wave i is in place at 125.09 and wave ii into the corrective target-area between 121.22 – 121.96 now should be expected before the next impulsive rally is expected to take over again.

Resistance at 124.49 failed to cap the upside indicating a flat correction developing. This calls for a rally in wave b closer to 125.09 before the next dip into the 121.22 – 121.96 area.

R3: 126.10

R2: 125.50

R1: 125.03

Pivot: 124.29

S1: 123.98

S2: 123.75

S3: 123.47

Trading recommendation:

We are looking for a buying opportunity in the 121.22 - 121.96 area.

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