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Wave analysis

02.09.201515:04 Forex Analysis & Reviews: Elliott wave analysis of EUR/JPY for September 2 - 2015

Long-term review
This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Exchange Rates 02.09.2015 analysis

Technical summary:

We continue looking for more upside as long as important support at 133.27 stays intact, but the short-term picture has become messy after the break below minor support at 135.23. The possible reason could be that a triangle is developing, but it is too early to tell.

In the short term, a break above minor resistance at 136.24 will be needed to ease immediate downside pressure.

Trading recommendation:

Stay neutral for now.

Torben Melsted
Analytical expert of InstaForex
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