empty
 
 
fr
Assistance
Ouverture rapide de compte
Plateforme de trading
Déposer / Retirer

25.11.201908:03 Forex Analysis & Reviews: Elliott wave analysis of EUR/JPY for November 25 - 2019

Exchange Rates 25.11.2019 analysis

EUR/JPY also failed to hold above minor support at 119.91. It indicates that a complex double zig-zag was unfolding similar to blue wave ii. The correction in blue wave ii likely to be complete with the test of 119.62. We need a break above minor resistance at 120.30 to confirm that blue wave ii has completed and blue wave iii is developing higher to 121.98.

Support is now seen at 119.79 and strong support is at 119.62.

R3: 120.64

R2: 120.39

R1: 120.30

Pivot: 120.13

S1: 119.94

S2: 119.79

S3: 119.62

Trading recommendation:

We are long EUR from 117.25 with our stop placed at 119.30. If you are not long EUR yte, then buy a break above 120.30 and use the same stop at 119.30.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Torben Melsted,
Analytical expert of InstaSpot
© 2007-2024
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.

Can't speak right now?
Ask your question in the chat.