empty
 
 
25.04.2016 08:41 AM
Technical analysis of EUR/JPY for April 25, 2016

General overview for 25/04/2016:

The Elliott wave count has been little modified to incorporate the recent price action. Currently, the corrective cycle in wave 2 is expected, and the retracement can reach the projected level of 123.79 before any meaningful rally occurs. Please notice that the price is now trading inside of the neutral zone, but any breakout below the level of 123.36 will result in an immediate test of the recent local low at the level of 121.71.

Support/Resistance:

121.71 - Local Low

123.36 - Bearish Zone Level

123.79 - Projected Target for Wave 2

124.52 - Weekly Pivot

124.95 - Intraday Support

125.52 - Intraday Resistance

Trading recommendations:

Traders should now stay aside from the market and wait for the next trading setup to occur shortly.

This image is no longer relevant

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 $10000 more!
    In January we raffle $10000 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