Today's Support and Resistance Levels:
R3: 134.71
R2: 133.94
R1: 133.53
Current Spot: 133.03
S1: 132.75
S2: 132.44
S3: 132.25
Technical Summary:
Wave ii saw a low at 131.64, which was just before the ideal corrective target 131.43. The rally of the 131.64 low is clearly impulsive in character, which indicates, that wave iii is developing. However, we need a clear break above minor resistance at 133.53, but once this resistance is overcome we should see a powerful rally higher towards at least 137.45 and likely even higher. Short term I'm looking for a minor corrective set-back to the 132.25 - 132.44 area, from where the next rally higher towards 133.53 should be launched.
Today's Support and Resistance Levels:
R3: 1.6514
R2: 1.6418
R1: 1.6353
Current Spot: 1.6288
S1: 1.6256
S2: 1.6220
S3: 1.6200
Technical Summary:
As long as minor resistance at 1.6353 protects the upside, we could see a deeper decline towards 1.6200 before wave ii is over. However once we break above 1.6353 and more importantly above 1.6418 we should see a powerful acceleration higher towards at least 1.6800 and likely even higher towards the former top at 1.7274. The rally of the fifth failure low at 1.6089 has all the characteristics of an impulsive rally and therefore it should just be a matter of time before the next powerful rally higher begins.
Hi EWS,
ReplyDeletemay be that EURJPY now fall under 131.65? to 131.02, as deep for the month of october.
Hi Paulina,
ReplyDeleteThat's no my preferred Outlook, but as long as resistance at 133.53 hasn't been broken it's a possibility that can't be ruled out.
Kind regards
EWS
UsdJpy is not helping eurjpy!!!Problems inside EUA causing problems in dólar!!
ReplyDelete