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Daily technical analysis of EUR/JPY By INSTAFOREX

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  #121  
Old 10-02-2016, 23:50
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Default Re: Daily technical analysis of EUR/JPY By INSTAFOREX

Wave summary:
Wave ii bottomed at 128.25 (just below our target at 128.55). A rally from a low of 128.25 looks impulsive, but to confirm that a new impulsive rally is developing we should ideally see support in the area of 128.85 - 129.01 protecting the downside for a new rally above yesterday's high of 130.26 and more importantly a breakout above 131.66. The movement above the latter, will break the resistance line from 141.04 and will confirm the impulsive rally in wave iii higher to above 141.04 towards 149.52.
Only an unexpected breakout below a low of 128.25 will invalidate the bullish count and call for a new test of strong support in the area around 126.05 - 126.14.

Trading recommendation:
We are long EUR from 128.60 and will move our stop higher to 128.20. If you are not long EUR yet, then buy near 128.85 and use the same stop at 128.20.




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  #122  
Old 12-02-2016, 15:15
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Default Re: Daily technical analysis of EUR/JPY By INSTAFOREX

Wave summary:
Wave ii bottomed at 128.25 (just below our target at 128.55). A rally from a low of 128.25 looks impulsive, but to confirm that a new impulsive rally is developing we should ideally see support in the area of 128.85 - 129.01 protecting the downside for a new rally above yesterday's high of 130.26 and more importantly a breakout above 131.66. The movement above the latter, will break the resistance line from 141.04 and will confirm the impulsive rally in wave iii higher to above 141.04 towards 149.52.
Only an unexpected breakout below a low of 128.25 will invalidate the bullish count and call for a new test of strong support in the area around 126.05 - 126.14.

Trading recommendation:
We are long EUR from 128.60 and will move our stop higher to 128.20. If you are not long EUR yet, then buy near 128.85 and use the same stop at 128.20.




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  #123  
Old 16-02-2016, 20:38
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Default Re: Daily technical analysis of EUR/JPY By INSTAFOREX

Wave summary:
We still expect a decline closer to the support line near 124.00 before a faster corrective rally can occur.
In a short term, a break below 126.36 will confirm the expected downside pressure towards 124.00.
Resistance is now seen at 127.36. This resistance will protect the upside for the break below 126.36.

Trading recommendation:
Short positions are recommended at 126.10 looking for a move lower to 124.00.




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  #124  
Old 19-02-2016, 01:53
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Default Re: Daily technical analysis of EUR/JPY By INSTAFOREX

General overview
Not much change in this pair is observed as the market trades very slowly in a thigh range. The intraday support level has been tested three times already. In case of a breakout, the next intraday support is seen at the level of 125.76. The market is still treading inside the bearish zone, but the current count in the bigger time frames still indicates a possible upward wave progression as a low for the wave B cycle seems to be in place. This would mean the market still needs to make one more wave to the upside, big-cycle wave C blue, to complete the bigger-time-frame corrective cycle.

Trading recommendations:
Day traders should refrain from trading and wait for a better trading setup to occur in the nearest term.




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  #125  
Old 19-02-2016, 19:10
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Default Re: Daily technical analysis of EUR/JPY By INSTAFOREX

General overview
The higher time frame wave progression shows a complex and time consuming double-three pattern labeled on chart as ABC-X-ABC. The leg C of the pattern looks completed and the market might start to rally any time soon. Nevertheless, it is worth to mention, that this pattern might evolve to even more complex correction called triple three, which will be labeled as ABC-X-ABC-X-ABC. That means there is another big ABC leg to be made according to this scenario.

Trading recommendations:
Day traders should refrain from trading and wait for a better trading setup to occur in the nearest term.




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  #126  
Old 24-02-2016, 23:13
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Default Re: Daily technical analysis of EUR/JPY By INSTAFOREX

General overview
The bottom for the B blue wave might be in place, but, as in the previous attempts, this one is still not confirmed. The market is still trading in bearish zone and the whole structure evolves into more complex and time consuming correction even on longer time frames. The current ABC blue labeling may not be the last one as further corrective sub-waves are still expected.

Trading recommendations: Day traders should refrain from trading and wait for a better trading setup to occur in the near term.




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  #127  
Old 25-02-2016, 12:57
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Default Re: Daily technical analysis of EUR/JPY By INSTAFOREX

Wave summary:
We have been looking for a wave a bottom near 124.00, but it finally seems to be in place with a low of 122.42. We do think this overshooting is a sign of the crowed getting ahead of itself.
With a bottom in place, we now expect wave b to rally back to at least 127.41 before the risk turns towards the downside again. A target at 127.41 could be overshot. In the short term, we are looking for support near 123.62 and at 123.02 again, which should protect the downside for a rally higher with the next resistance seen near 125.90.

Trading recommendation:
We have bought EUR at 123.80. We will place our stop at 122.35 now. We hope we will be able to move it higher soon. Take profit will be placed at 127.25.




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  #128  
Old 26-02-2016, 13:20
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Default Re: Daily technical analysis of EUR/JPY By INSTAFOREX

Wave summary:
A sharp rally from a low of 122.42 clearly confirms that wave a is over and wave b is unfolding now. The first wave b targets the level of 127.41, but we could move even closer to 130.00 before wave b is complete.
In the short term, we expect minor support to be found in the area of 124.14 - 124.35, which will ideally protect the downside for a continuation higher to 125.91 and 127.41.

Trading recommendation:
We are long EUR from 123.80. We will move our stop higher to 123.35. If you are not long EUR yet, then buy near the area of 124.14 - 124.35 and use the same stop at 123.35.




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  #129  
Old 02-03-2016, 15:55
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Default Re: Daily technical analysis of EUR/JPY By INSTAFOREX

Wave summary:
The break above the minor resistance-line from 131.66 is yet another good indication that wave c of the expanded flat correction now is unfolding. The ideal target for wave c is seen at 125.63, from where the risk again will turn towards the downside. That does not mean a turn will be seen, but at that point all requirements to the expanded flat will have been fulfilled.
Trading recommendation:
We are long EUR from 122.80 and will move our stop higher to 123.18 and place take profit at 125.50.




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  #130  
Old 03-03-2016, 15:11
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Default Re: Daily technical analysis of EUR/JPY By INSTAFOREX

Wave summary:
The rally from 122.08 seems to have topped at 124.36. The failure to take out the 125.01 high does indicate that a running triangle is developing, but not an expanded flat. We will totally rule out the possibility of the expanded flat, but the odds now favor a running triangle (it's called a running triangle because red wave b broke below the starting point of red wave a).
If a running triangle is indeed building, then we should look for sideways consolidation around 123,00 before the final thrust lower towards 119.90.

Trading recommendation:
Our stop at 123.18 was hit for a small profit. With the prospect of a running triangle unfolding, we will be looking for a new EUR selling opportunity. We will sell EUR at 123.88 with a stop at 124.45




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  #131  
Old 08-03-2016, 13:43
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Default Re: Daily technical analysis of EUR/JPY By INSTAFOREX

Wave summary:
There are no changes to our expectation. We still foresee a final rally higher to 126.24 that will end red wave c of the expanded flat correction and renewed downside pressure towards 119.90 and possibly even lower to 117.37.
The decline from a high of 149.79, reached in early December 2014, is finally nearing its end, but still has a little more downside to cover.

Trading recommendation:
We are looking for selling opportunities near 126.45 with stop placed at 127.45.




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  #132  
Old 11-03-2016, 20:08
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Default Re: Daily technical analysis of EUR/JPY By INSTAFOREX

Wave summary:
EUR/JPY has moved higher than expected and is likely to test the strong resistance near 126.90. As long as this resistance protects the upside, the long-term correction lower will be intact for a decline closer to 119.90 and even lower to 117.37.
If, however, this resistance gets broken, it will be the first good indication that the long-term correction is over and a new impulsive rally is approaching.
We still prefer one more decline to end this larger correction, but we will stay flexible if the price-action tell us that a bottom is already in place.

Trading recommendation:
We will sell EUR here at 126.79 with stop+revers placed at 128.20




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  #133  
Old 15-03-2016, 19:37
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Default Re: Daily technical analysis of EUR/JPY By INSTAFOREX

Wave summary:
The break below minor support at 126.03 is the first strong indication that the corrective wave b terminated at 127.27 and wave c now is developing for a decline to 119.90 and maybe even lower to 117.35.
In the short term, the former support at 126.03 now acts as resistance for a continuation lower to 123.01 and below here confirms the decline to 119.90 and maybe lower.

Trading recommendation:
We are short EUR from 126.79 and will move our stop lower to 126.75. If you are not short EUR yet, then sell near 126.03 and use the same stop.




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  #134  
Old 17-03-2016, 18:25
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Default Re: Daily technical analysis of EUR/JPY By INSTAFOREX

Wave summary:
The important short term resistance at 126.70 has protected the upside nicely and we will now be looking for renewed weakness to below support at 125.05 confirming more downside pressure towards 123.01 and below to 122.06 and 119.90.
Only an unexpected break above 126.70 will delay the expected downside pressure for a move closer to 127.45 before heading down again.

Trading recommendation:
We are short in EUR from 126.79 with a stop placed at 126.75. If you are not short yet, then sell upon a break below 125.57 and use the same stop at 126.75.




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  #135  
Old 18-03-2016, 17:41
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Default Re: Daily technical analysis of EUR/JPY By INSTAFOREX

Wave summary:
There is a rally; nothing new to add here. We continue to expect minor resistance at 126.70 will protect the upside for a break below minor support at 125.05 calling for renewed downside pressure towards 122.06 and lower to 119.90.
A break above 126.70 will delay the expected downside pressure for a move higher to slightly above 127.27.

Trading recommendation:
We are short in EUR from 126.79 with stop placed at 126.75. If you are not short in EUR yet, then sell a break below 125.05 and use the same stop at 126.75.




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  #136  
Old 23-03-2016, 00:17
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Default Re: Daily technical analysis of EUR/JPY By INSTAFOREX

General overview
The price has managed to break out of the triangle and currently it is testing the higher triangle line from above. The ongoing correction might be complex and time-consuming, but it cannot violate the 123.07 level. If it does, the alternative count will be in play, which suggests more downward wave progression towards the 122.06 level.

Trading recommendations:
Day traders should buy on dips with SL below 123.07 and TP open for now.




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  #137  
Old 25-03-2016, 07:09
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Default Re: Daily technical analysis of EUR/JPY By INSTAFOREX

General overview
After completing the corrective structure in wave (ii), the market stalled just below the intraday resistance at the level of 126.25. The immediate upward reaction from the wave (ii) bottom looks impulsive in nature and might be the beginning of a new upward impulsive wave progression. Nevertheless, the alternative count suggests that the correction might be complex and time-consuming, but it cannot violate the 123.07 level. If it does, the alternative count will be in play, which suggests more downward wave progression towards the 122.06 level.

Trading recommendations:
Day traders should buy on dips with SL below 123.07 and TP open for now.




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  #138  
Old 30-03-2016, 11:08
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Default Re: Daily technical analysis of EUR/JPY By INSTAFOREX

Wave summary:
Resistance at 127.27 was not able to protect the upside, which calls for a more complex double zig-zag combination unfolding. Wave c of the second zig-zag is currently unfolding and the wave equality between waves a and c will call for a rally higher to 128.91 to end wave iv and turn prices lower in wave v.
Support is now seen at 126.64 which ideally will protect the downside for the next rally above 127.45 for a move higher towards 128.91.

Trading recommendation:
We are long in EUR from 127.35 and will start placing our stop at 125.85 expecting to raise it soon.




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  #139  
Old 31-03-2016, 19:08
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Default Re: Daily technical analysis of EUR/JPY By INSTAFOREX

Wave summary:
We continue to look for more corrective upside pressure close to 128.91 before the final decline to below 122.06 is ready to take over for the final decline closer to 117.37 to end the larger correction that has been unfolding since the 149.55 high.
In the short term, we expect minor support near 126.76 will protect the downside for the final rally higher towards 128.91 to terminate red wave iv of C and set the stage for the final impulsive decline.

Trading recommendation:
We are long in EUR from 127.35 and we will move our stop slightly higher to 125.85.




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  #140  
Old 05-04-2016, 14:51
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Default Re: Daily technical analysis of EUR/JPY By INSTAFOREX

Wave summary:
EUR/JPY is accelerating nicely lower as wave v is starting to unfold in practice.
Short term, we expect minor resistance near 126.43 will protect the upside for decline to below support at 124.64 confirming a return to the 122.06 low on the way towards 117.38 as the ideal downside target for wave v. We should expect support near 124.64 will be able to provide good support and likely cause a correction higher to 126.95 before lower again.

Trading recommendation:
We sold EUR at 127.35 and will lower our stop to 126.89 and take profit at 125.05.




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  #141  
Old 07-04-2016, 15:56
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Default Re: Daily technical analysis of EUR/JPY By INSTAFOREX

Wave summary:
We have now seen the expected break below the important support at 124.64 confirming a continuation lower to 122.06 and 117.38 to end the corrective decline from 141.04.
Short-term resistance is now seen at 125.30, which ideally will protect the upside for the expected continuation lower to 123.04 and 122.06 on the way towards the ideal corrective target at 117.38.

Trading recommendation:
We are short in EUR from 127.35 and will move our stop lower to 125.35. If you are not short yet, then sell near 124.95 and use the same stop at 125.35.




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  #142  
Old 08-04-2016, 11:18
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Default Re: Daily technical analysis of EUR/JPY By INSTAFOREX

Wave summary;
We continue to look for a decline to 120.98 (red wave iii), where red wave iii will be 161.8% longer than red wave i. Once red wave iii is in place near 120.98 a correction/consolidation in red wave iv should be seen before the final decline in red wave v lower towards 117.37.
In the short term, a break below minor support at 122.95 will confirm the decline towards 120.98 to end red wave iii.

Trading recommendation:
We are short in EUR from 127.35 and will move our stop lower to 124.70. Upon a break below 122.95 we will move our stop lower to 124.00. We will take profit at 121.05.




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  #143  
Old 13-04-2016, 21:51
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Default Re: Daily technical analysis of EUR/JPY By INSTAFOREX

General overview
The wave progression inside the triangle pattern looks completed as the wave e of the whole structure is fully developed. A downward breakout should happen soon. Please note that the corrective cycle might evolve into a less complex and time-consuming pattern, especially if the intraday resistance at the level of 124.24 is clearly violated. For now, however, sideways price action below the weekly pivot is expected. Impulsive break out to the downside is also anticipated.

Trading recommendations:
Traders should sell the triangle pattern area with SL above the level of 124.24 and TP at the lows of the triangle pattern around the level of 122.50.




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  #144  
Old 15-04-2016, 04:59
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Wave summary:
We continue to look for a downside thrust out of the triangle for a decline towards 120.98 to end red wave iii and set the stage for a correction rally in red wave iv to the 123.55 - 123.85 area before going lower again in red wave v towards 117.38 to terminate the long-term correction from 149.96.

Trading recommendation:
We are short in EUR from 123.76 and we will move our stop slightly lower to 123.90.




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  #145  
Old 15-04-2016, 18:32
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Wave summary:
With a low at 122.70, EUR/JPY failed to make a new low below 122.54 indicating either a fifth wave failure or that a more complex correction is unfolding in red wave [iv]. We will continue to look for resistance at 123.66 and, if broken just above 124.23, for the final decline towards 121.75 and maybe even slightly lower to 120.45. The long-term ideal target at 117.37 does not seem realistic anymore.

Trading recommendation:
We are short in EUR from 123.76 and will move our stop lower to break-even. If this stop is hit then we will be looking to sell EUR again at 124.25 with stop at 125.25.




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  #146  
Old 20-04-2016, 16:26
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Default Re: Daily technical analysis of EUR/JPY By INSTAFOREX

Wave summary:
The rally of the 121.69 low has been stronger than expected and displayed impulsive characters indicating that a bottom could be in place. If this is the case, then the coming decline from the 124.40 high will be in three waves and will halt above the 121.69 low for a new rally above 124.40 calling for a rally to above 128.22.
Only a break back below 121.69 will reinstate the 117.37 - 117.99 area as the final target zone.

Trading recommendation:
We are neutral, but we will sell EUR here at 123.82 and place stop at 124.25.




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  #147  
Old 22-04-2016, 08:29
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Default Re: Daily technical analysis of EUR/JPY By INSTAFOREX

General overview
Five impulsive waves are now present on the chart and the market is in the corrective cycle. In that case, after the corrective cycle is completed, one more wave upward is expected before any meaningful correction will happen. Moreover, any breakout below the intraday support at the level of 123.35 will invalidate the alternative count.

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




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  #148  
Old 26-04-2016, 20:48
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Default Re: Daily technical analysis of EUR/JPY By INSTAFOREX

Wave summary:
We continue to look for a continuation higher towards 127.77 as the first upside target for red wave iii. Short-term support is seen at 124.81, but we must still allow for a more complex correction that could move as low as 124.27 before a break above 125.54 confirms a continuation towards 127.77 and maybe even higher.

Trading recommendation:
We are long in EUR from 124.40 with stop placed at 124.05. If you are not long in EUR yet, then buy near 124.27 and use the same stop at 124.05.




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  #149  
Old 28-04-2016, 12:11
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Default Re: Daily technical analysis of EUR/JPY By INSTAFOREX

Wave summary:
EUR/JPY only reached 126.47 before collapsing as the Bank of Japan announced no change after its meeting today. That disappointed the market and sent the cross pair strongly lower. Despite the collapse, this decline is "only" regarded as red wave ii and should find support in the 121.71 - 122.57 area for the next rally higher in red wave iii.
To confirm that a long term bottom was seen at 121.69, we will need a break above short-term important resistance at 128.22.

Trading recommendation:
Stop hit. Will re-buy EUR at 122.85 with stop placed at 121.65.




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  #150  
Old 29-04-2016, 10:44
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Default Re: Daily technical analysis of EUR/JPY By INSTAFOREX

General overview
Five downside waves in the impulsive structure of the sub-wave c green were completed, and market might be ready for a corrective upward bounce. The whole simple corrective cycle, labeled as abc irregular flat correction, is completed as well. According to the main count, another upward leg might be made. Moreover, any violation of the level of 121.71 will invalidate the bullish impulsive scenario. Nevertheless, please notice that the simple correction might evolve into more complex and time consuming cycle.

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




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  #151  
Old 29-04-2016, 11:14
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Default Re: Daily technical analysis of EUR/JPY By INSTAFOREX

I think Once this correction is over, a new strong rally higher to at least the 149.55 top, and possibly much higher in the longer term, will take place.
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  #152  
Old 03-05-2016, 18:14
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Default Re: Daily technical analysis of EUR/JPY By INSTAFOREX

Wave summary:
The extremely erratic decline from 141.06 could have bottomed at 121.66, but if this is the case, then a break above minor resistance at 122.95 should be seen soon and, more importantly, a break above resistance at 124.04 will confirm the low for a new rally back to 126.47.
That said, we have to be aware of the possibility of more downside pressure to below 121.66 for a move closer to 117.99 as long as minor resistance at 122.95 is able to protect the upside.

Trading recommendation;
We are long in EUR from 122.95 with stop placed at 121.65. If you are not long in EUR yet, then buy a break above 122.95 and use the same stop at 121.65 expecting to move it higher soon,




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  #153  
Old 04-05-2016, 20:58
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Default Re: Daily technical analysis of EUR/JPY By INSTAFOREX

General overview
There is still one more sub-wave missing on the hourly time frame chart. According to the Elliott wave rules it should be the last wave to the downside - wave (c) blue. The intraday resistance at the level of 123.35 held the line, and the market reversed lower towards the weekly pivot at the level of 122.98. Currently, bears might want to break out below the dashed intraday trend line and test the recent low at the level of 121.66. Please notice that the market is still trading inside the pink bearish zone.

Trading recommendations:
The buy orders from Monday were closed with profit. Currently, the day traders should consider opening sell orders from the current market levels with SL above the level of 123.51 and TP at the level of 121.66.




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  #154  
Old 06-05-2016, 10:53
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Default Re: Daily technical analysis of EUR/JPY By INSTAFOREX

Wave summary:
This cross is doing nothing at the moment.
Is a bottom building? Or is it just at consolidation before more downside pressure is seen? The failure to rally will normally have us call for more downside towards 117.99, but then the long term erratic decline from 141.06 could have bottomed. However, to indicate this is the case, a break above minor resistance at 123.53 will be needed. So for now, we will just have to be patient and let the Market show us its mind.

Trading recommendation:
Our stop at 122.20 was hit for a small loss. We will only buy upon a break above 123.53. We have no interest in being short as the risk of a bottom is too big.




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  #155  
Old 10-05-2016, 12:10
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Default Re: Daily technical analysis of EUR/JPY By INSTAFOREX

Wave summary:
With the break above resistance at 123.53 we have seen another strong indication that a firm bottom is in place with the 121.46 low. In the short term, we will now be looking for support near 123.21 for the next rally higher towards 124.66 and the April high at 126.47. A break above the later will finally confirm that the long-term correction from 149.55 has come to an end and a new impulsive rally that ultimately will break back above the 149.55 high will be seen.

Trading recommendation:
We are long EUR from 122.55 and will place our stop at break-even. If you are not long EUR yet, then buy near 123.21 and use the same stop at 122.55.




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  #156  
Old 12-05-2016, 20:33
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Default Re: Daily technical analysis of EUR/JPY By INSTAFOREX

General overview for 12/05/2016:
The price reaction from the grey rectangular typical zone was promising and even the first impulsive wave might be labeled after the drop, but the market was to weak to break out below the important support at the level of 123.50. To confirm the reversal is true, the price must drop below the intraday support at the level of 123.50 and then below 123.23 technical support. Extension to the upside is possible only if the price breaks out above the local high at 124.40 in an impulsive fashion. Otherwise, lower prices are expected in this market, but the simple corrective structure might evolve into more complex and time-consuming cycle.

Trading recommendations:
Day traders should consider opening sell orders from the current market levels with a tight SL (10-15 pips) and TP open for now (might extend to around 120.33). Please use a tight SL because there are three different targets for the wave (b) to complete and at this stage of progression it is impossible to tell on which one the wave ends.




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  #157  
Old 17-05-2016, 07:16
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Default Re: Daily technical analysis of EUR/JPY By INSTAFOREX

Wave summary:
After a perfect 61.8% correction of wave [i] to 122.61, we are now looking for wave [iii] higher towards at least 125.78 and possibly even higher.
In the short term, we will ideally see minor support near 123.20 protect the downside for a break above minor resistance at 123.510 and, more importantly, a break above resistance at 123.81 confirming that a low is in place at 122.61 for a rally towards 125.78.
Only an unexpected break below 122.91 indicates that a more complex correction is unfolding in wave [ii].

Trading recommendation:
We are long in EUR from 123.10 and will move our stop higher to 122.90. If you are not long in EUR yet, then buy a break above 123.51 and use the same stop at 122.90.




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  #158  
Old 18-05-2016, 22:24
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Default Re: Daily technical analysis of EUR/JPY By INSTAFOREX

Wave summary:
With a low at 122.93 or exactly the 78.6% correction of red wave [i], we expect red wave [ii] will be in place for the next impulsive rally above minor resistance at 123.55 and, more importantly, above resistance at 124.18 confirming a continuation higher towards 125.78 and above.
The low at 122.93 should ideally protect the downside, but at no point can a break below 122.60 be allowed as that would force a recount of the correction in wave [ii].

Trading recommendation:
Stay long with stop placed at 122.90. If you are not long in EUR yet, then buy a break above 123.55 and use the same stop at 122.90.




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  #159  
Old 20-05-2016, 12:04
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Default Re: Daily technical analysis of EUR/JPY By INSTAFOREX

Wave summary:
EUR/JPY failed to rally after the break above minor resistance at 123.64 indicating that a more prolonged zig-zag correction in red wave [ii] was unfolding. We are still expecting support at 122.61 will be able to protect the downside for a break above minor resistance at 123.78 confirming the next rally higher to 126.47 and above.
Should support at 122.61 be broken, that would indicate that wave [ii] is still developing, and a decline to 122.11 should be expected before the next rally higher.

Trading recommendation:
Our stop at 122.90 was hit for a loss. We will re-buy EUR here at 123.30 with stop placed at 122.60.




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  #160  
Old 24-05-2016, 08:39
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Default Re: Daily technical analysis of EUR/JPY By INSTAFOREX

Wave summary:
We have seen the expected decline towards the ideal 122.12 target for wave [ii] from where a new strong rally higher to above 124.05 and more importantly above resistance at 124.65 should be seen confirming a strong test of important resistance at 126.47, which is the pivot point between the bearish or the bullish outlook.
Short term, one more minor decline closer to 122.12 is expected before the next impulsive rally sets in.
At no point can a break below 121.46 be allowed as that will revive the "old" 119.07 target.

Trading recommendation:
Our stop at 123.10 was hit for a small loss. We will buy EUR again at 122.15 or upon a break above 122.79 with stop placed at 121.45.




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