2018-08-02
EUR/JPY is currently testing the 50 - 61.8% corrective target of blue wave i between 129.88 - 130.12. We expect this support-zone max. 129.68 will be able to support EUR/JPY for the next impulsive rally towards 131.69 and 133.26 as the next sub-targets on the way higher to 135.74 and longer term much higher.
An unexpected break below 129.68 will be slightly disappointing, but support at 129.09 should continue to protect the downside for a continuation higher.
R3: 131.15
R2: 130.68
R1: 130.30
Pivot: 130.00
S1: 129.88
S2: 129.68
S3: 129.48
Trading recommendation:
We are long EUR from 130.28 with our stop placed at 129.50. If you are not long EUR yet, then buy EUR in the 129.88 - 130.12 support-zone and use the same stop at 129.50.
Elliott wave analysis of EUR/JPY for August 2, 2018
2018-08-02
EUR/JPY is currently testing the 50 - 61.8% corrective target of blue wave i between 129.88 - 130.12. We expect this support-zone max. 129.68 will be able to support EUR/JPY for the next impulsive rally towards 131.69 and 133.26 as the next sub-targets on the way higher to 135.74 and longer term much higher.
An unexpected break below 129.68 will be slightly disappointing, but support at 129.09 should continue to protect the downside for a continuation higher.
R3: 131.15
R2: 130.68
R1: 130.30
Pivot: 130.00
S1: 129.88
S2: 129.68
S3: 129.48
Trading recommendation:
We are long EUR from 130.28 with our stop placed at 129.50. If you are not long EUR yet, then buy EUR in the 129.88 - 130.12 support-zone and use the same stop at 129.50.
Elliott wave analysis of EUR/JPY for August 2, 2018
2018-08-02
EUR/JPY is currently testing the 50 - 61.8% corrective target of blue wave i between 129.88 - 130.12. We expect this support-zone max. 129.68 will be able to support EUR/JPY for the next impulsive rally towards 131.69 and 133.26 as the next sub-targets on the way higher to 135.74 and longer term much higher.
An unexpected break below 129.68 will be slightly disappointing, but support at 129.09 should continue to protect the downside for a continuation higher.
R3: 131.15
R2: 130.68
R1: 130.30
Pivot: 130.00
S1: 129.88
S2: 129.68
S3: 129.48
Trading recommendation:
We are long EUR from 130.28 with our stop placed at 129.50. If you are not long EUR yet, then buy EUR in the 129.88 - 130.12 support-zone and use the same stop at 129.50.
Technical analysis: Intraday level for USD/JPY, Aug 02, 2018
2018-08-02
In Asia, Japan will release the 10-y Bond Auction and Monetary Base y/y data, and the US will release some Economic Data such as Natural Gas Storage, Factory Orders m/m, Unemployment Claims, and Challenger Job Cuts y/y. So there is a probability the USD/JPY will move with a low to medium volatility during this day.
TODAY'S TECHNICAL LEVEL:
Resistance. 3: 112.21.
Resistance. 2: 111.99.
Resistance. 1: 111.77.
Support. 1: 111.49.
Support. 2: 111.27.
Support. 3: 111.06.
Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all Traders or Investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Elliott wave analysis of EUR/JPY for August 2, 2018
2018-08-02
EUR/JPY is currently testing the 50 - 61.8% corrective target of blue wave i between 129.88 - 130.12. We expect this support-zone max. 129.68 will be able to support EUR/JPY for the next impulsive rally towards 131.69 and 133.26 as the next sub-targets on the way higher to 135.74 and longer term much higher.
An unexpected break below 129.68 will be slightly disappointing, but support at 129.09 should continue to protect the downside for a continuation higher.
R3: 131.15
R2: 130.68
R1: 130.30
Pivot: 130.00
S1: 129.88
S2: 129.68
S3: 129.48
Trading recommendation:
We are long EUR from 130.28 with our stop placed at 129.50. If you are not long EUR yet, then buy EUR in the 129.88 - 130.12 support-zone and use the same stop at 129.50.
Elliott wave analysis of EUR/JPY for August 2, 2018
2018-08-02
EUR/JPY is currently testing the 50 - 61.8% corrective target of blue wave i between 129.88 - 130.12. We expect this support-zone max. 129.68 will be able to support EUR/JPY for the next impulsive rally towards 131.69 and 133.26 as the next sub-targets on the way higher to 135.74 and longer term much higher.
An unexpected break below 129.68 will be slightly disappointing, but support at 129.09 should continue to protect the downside for a continuation higher.
R3: 131.15
R2: 130.68
R1: 130.30
Pivot: 130.00
S1: 129.88
S2: 129.68
S3: 129.48
Trading recommendation:
We are long EUR from 130.28 with our stop placed at 129.50. If you are not long EUR yet, then buy EUR in the 129.88 - 130.12 support-zone and use the same stop at 129.50.
Technical analysis: intraday levels for USD/JPY for Aug 02, 2018
2018-08-02
In Asia, Japan will release the 10-y Bond Auction results and the monetary base data. At the same time, the US will also reveal some economic data such as the natural gas storage, factory orders m/m, unemployment claims, and challenger job cuts y/y. So there is a probability USD/JPY will move with low to medium volatility during this day.
TODAY'S TECHNICAL LEVELS:
Resistance. 3: 112.21.
Resistance. 2: 111.99.
Resistance. 1: 111.77.
Support. 1: 111.49.
Support. 2: 111.27.
Support. 3: 111.06.
Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all Traders or Investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
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