EUR/USD Intraday Technical Analysis
USD/JPY Intraday Technical Levels for July 19, 2012
News: 2012-07-19 07:34:33 UTC+00 10 months, 5 days, 4 hours, 42 min. ago
EUR/JPY - Elliott Wave Analysis for July 19, 2012


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Today's Support and Resistance Levels:

 

Support                       Resistance 

1: 96.37                       1: 97.31 

2: 96.11                       2: 97.96

3: 95.57                       3: 98.13

 

Technical Overview: 

We are hovering just above support at 96.37, as long as this support is not broken clearly to the downside we still could see a new rally higher towards the ideal corrective target at 97.96. From 97.96 or upon a clear break below 96.37 we will expect that last decline in blue wave v down towards the ideal target near 94.58, which should terminate the entire decline since 111.43 and cause a nice big rally back to 101.62 as the first upside target.

 

Trading Recommendation:

Sell EUR against JPY at 97.90 or upon a clear break below 96.37 (sell at 96.25) with a 98.75 stop. Take profit at 94.75

Performed by
Analytical expert: Torben Melsted
InstaForex Group © 2007-2013
 Published: 2012-07-19 07:34:33 UTC+00 10 months, 5 days, 4 hours, 42 min. ago

 
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