Monday 20 April 2015

Elliott wave analysis of EUR/JPY for April 20 - 2015 Market Analysis Review

2015-04-20-EURJPY-4H.png

2015-04-20-EURJPY-4H1.png

Technical summary:

We still have two possible counts for the rally from a low of 126.02. We still prefer the series of waves one and two slightly over the leading diagonal, then acceleration is likely to be needed soon, while a break below 127.74 shifts the count towards a leading diagonal for a correction to 126.73 before an increase in red wave iii.

So, this game continues to be a waiting one until the market shows us its real hand.

Trading recommendation:

We are long EUR from 126.96 and will move our stop higher to 127.70. If our stop is hit, we will re-buy EUR at 126.80 with a stop at 126.00

The material has been provided by InstaForex Company - www.instaforex.com

For detail explanation and best discovery on daily market trends and news you may visit via Elliott wave analysis of EUR/JPY for April 20 - 2015 . Thanks for your support.

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