Elliott wave analysis of EUR/JPY for January 15 – 2020

We continue to look for more upside pressure towards 123.84 near-term. Before the next push higher, we could see a dip into the support-zone between 121.81 – 122.09 but the consolidation already seen could be enough to push EUR/JPY higher towards the next upside target at 123.84.

R3: 123.84

R2: 123.34

R1: 122.93

Pivot: 122.43

S1: 122.14

S2: 121.84

S3: 121.43

Trading recommendation:

We bought EUR at 122.25 and we have placed our stop at 121.25

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

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MOKAR

Author: MOKAR

Mula berdagang dalam pasaran forex sejak tahun 2003. Manakala pasaran bursa saham tempatan dan global pada tahun 2018. Menjadikan trading online sebagai kerjaya sepenuh masa pada tahun 2019. Kerjaya sebelum ini adalah seorang salesman kereta. Berpengalaman dengan pelbagai teknik dan perguruan tetapi akhirnya sangat serasi dengan teknik FMCBR @ Fibo Musang melalui guruku Cikgu Baha & Cikgu Zul.

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