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Thread: Technical analysis of EUR/JPY By Instaforex

  1. #61
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    Default Elliott wave analysis of EUR/JPY for November 26 - 2014 By Instaforex

    Technical summary:
    The correction towards 142.06 is still unfolding. We are currently looking for a break below minor support at 146.55 to confirm the strong decline towards 143.82 on the way lower towards 142.06 to end the correction from 149.13. At this point only an unexpected break above 147.39 will delay the expected decline towards 142.06.

    Trading recommendation:
    We are short in EUR from 146.90 with stop place at 147.50. If you are not short in EUR yet, then sell near 146.85 with the same stop at 147.50.
    Technical analysis of EUR/JPY By Instaforex-2014-11-26-eurjpy-8h-png

  2. #62
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    Default Technical analysis of EUR/JPY for November 27, 2014 By Instaforex

    General overview for 27/11/2014
    The wave progression starts to look like a completed triangle pattern inside of a wave (ii) or b green and if there is no downside breakout below the level of 146.28 , then the market should rally impulsively to the upside, targeting the level of 147.38 and then 148.42. On the other hand, if the key level so broken, then the market might continue lower with the corrective cycle WXY brown, targeting the level of 145.59 first and then the level of 143.68 next.

    Trading recommendations:
    The SL for the opened buy trade recommended at the beginning of the week should be placed below the intraday support at the level of 146.28 and TP level in longer term should aim for the level of 147.98 and 149.14. Breakout below the level of 146.28 invalidates any other buy trade possibility
    Technical analysis of EUR/JPY By Instaforex-eurjpy_h1-jpg

  3. #63
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    Default Technical analysis of EUR/JPY for November 28, 2014 By Instaforex

    General overview for 28/11/2014
    The market is still in more extended corrective cycle as the suggested triangle shape has not been completed yet. Any breakout above the intraday resistance at the level of 147.37 is bullish and any breakout below the intraday support at the level of 146.27 is bearish.The bias is still slightly bullish as the corrective cycle has not been finished yet

    Trading recommendations:
    Still the buy order recommended at the beginning of the week should be kept open and SL should be placed below the intraday support at the level of 146.28 and TP level in longer term should aim for the level of 147.98 and 149.14. Breakout below the level of 146.28 invalidates any other buy trade possibility.
    Technical analysis of EUR/JPY By Instaforex-eurjpy_h1-jpg

  4. #64
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    Default Technical analysis of EUR/JPY for December 1, 2014

    General overview for 01/12/2104
    The corrective cycle in the shape of abc green zig-zag might have been completed and the higher degree corrective wave X brown might have been completed as well. This would mean, the market should continue to trade lower now and the support levels should be now violated as the internal intraday bearish corrective cycle in wave Y brown resumes to the downside. The minimum target zone is between the levels of 144.54 144.74, but the downside correction might extend even lower.

    Trading recommendations:
    Traders should consider selling this pair from the current market levels with SL above the level of 148.10 and TP at the level of 144.77.
    Technical analysis of EUR/JPY By Instaforex-eurjpy_h1-jpg

  5. #65
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    Default Technical analysis of EUR/JPY for December 3, 2014 By Instaforex

    General Overview for 03/12/2014
    The intraday resistance at the level of 148.15 has capped the upside rally twice so far and it looks like the price might now want to finally test the lower boundary of the intraday price range between the levels of 148.15 - 147.07. As there are some important fundamental news later this week, the market might stay in this "wait and see" mode for a little longer, making the corrective cycle longer and more time consuming. Nevertheless, the bias is still to the downside.

    Trading recommendations:
    As advised yesterday, sell orders should had been opened, with SL above the level of 148.14 and TP at the level of 144.77.
    Technical analysis of EUR/JPY By Instaforex-eurjpy_h1-jpg

  6. #66
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    Default Elliott wave analysis of EUR/JPY for December 5 - 2014 By Instaforex

    Technical summary:
    As the euro was reinforced after a less dovish ECB press conference, a break above 148.19 and even 148.25 was seen. That said, we are still holding below the top at 149.13, which is an invalidation point for our bearish count. In the short term, we will look for new signs of weakness in a form of a break below minor support at 148.11 and more importantly a break below support at 147.28 that would call for wave c lower to 145.35 and possibly even lower to 143.15 if wave c extends.
    Technical analysis of EUR/JPY By Instaforex-2014-12-05-eurjpy-8h-png

  7. #67
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    Default Technical analysis of EUR/JPY for December 10, 2014 By Instaforex

    General overview for 10/12/2014
    The green impulsive count has been canceled due to wave one and wave four overlaps and now an alternate count is in play. In this count, the general idea is a little more complex wave developing in a corrective cycle labeled as waves WXY brown of a wave 2 red. Currently, this cycle has got back into the yellow neutral zone and further downward progression is expected. The first level of support is the yesterday's big candle shadow bottom at the level of 146.76, but if it is violated, the market should fall event further to the level of 145.70. Only a sustained breakout above the level of 148.32 would change the bearish outlook.

    Trading recommendations:
    The sell orders from the level of 147.37 should be still kept open and traders are welcome to add to the shorts at any price between this level and the level of 148.32.. SL orders should be placed above the level of 148.33 and TP orders should be placed at the level of 146.34 with a possible extension downward to the level of 145.70
    Technical analysis of EUR/JPY By Instaforex-eurjpy_h1-jpg

  8. #68
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    Default Elliott wave analysis of EUR/JPY for December 19 - 2014

    Technical summary:
    The expanded flat correction, we have been tracking is still unfolding nicely. We expect resistance at 146.76 will protect the upside for a break below support at 145.59 confirming a decline to 143.81 and maybe even lower to 142.05. Only an unexpected break above 146.76 will cause concern and a break above 147.03 will invalidate the call for one more new low and indicate that the correction from 149.13 ended early.

    Trading recommendation:
    We are still looking for a buying opportunity and will place a conservative buy-order at 147.05, just in case a premature low is seen
    Technical analysis of EUR/JPY By Instaforex-2014-12-19-eurjpy-8h-png

  9. #69
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    Default Elliott wave analysis of EUR/JPY for December 22 - 2014 By Instaforex

    Technical summary:
    We are still locked inside the red wave iv triangle, but it should just be a matter of time, before we will see a break out of the triangle towards the downside for a move closer to 143.81. In the short term, we expect resistance at 146.74 to protect the upside for the break below support at 145.39 confirming the decline towards 143.81. Only an unexpected break above resistance at 147.03 will shift the focus towards the upside for a new rally towards 149.78 and above.

    Trading recommendation:
    We will sell EUR here at 146.28 with a stop+reverse at 147.05 and place take profit at 143.95.
    Technical analysis of EUR/JPY By Instaforex-1419222830_2014-12-22-eurjpy-8h-png

  10. #70
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    Default Elliott wave analysis of EUR/JPY for December 23 - 2014

    Technical summary:
    The break above 147.03 suggests that an x-wave higher to nearly 148.23, but not above this resistance, is unfolding. Once we get close to 148.23, we should look for signs, that the next zig-zag correction lower is unfolding towards 142.06. However, if resistance at 148.23 is broken, then the correction unfolding shifts to a flat correction calling for a return to 149.78 before lower in wave c.

    Trading recommendation:
    Our stop+reverse at 147.05 was hit and we are now long in EUR from 147.05 and will place stop at 145.90 and take profit at 148.05
    Technical analysis of EUR/JPY By Instaforex-2014-12-23-eurjpy-8h-png

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