Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

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Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

Blog Post

Elliott wave analysis of EUR/JPY for September 24, 2018

September 24, 2018 Analytics

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EUR/JPY has rallied nicely and is well underway towards 134.07 and above towards the 136.06 – 136.50 zone.

In the short-term, we expect support near 131.99 to be able to protect the downside for the next push higher towards 134.07. Support at 131.99 should be broken then a dip closer to 131.53 max will appear. 131.03 should be expected before the next push higher.

R3: 134.07

R2: 133.13

R1: 132.62

Pivot: 131.99

S1: 131.53

S2: 131.03

S3: 130.54

Trading recommendation:

We are long EUR from 129.11 with our stop placed at 130.85. If you are not long EUR yet, then buy near 132.00 and use the same stop at 130.85.

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

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