Tuesday, January 18, 2011

EUR/JPY Technical Analysis | 18 January 2011

EUR/JPY Technical Analysis | 18 January 2011

This pair fell yesterday but found support overnight and then began rallying again as anticipated. The rally is probably an Elliot wave 5 of the whole move up which began at the January 10 lows. Most wave 5’s of this size surpass the high of wave 3 and travel on average 20 or so points higher, giving a target of 111.18. Read more