EUR/JPY Technical Analysis - Monday 18 January 2010

EUR/JPY Technical Analysis
by minibahn

RTFX Tradertip Nostromo Scenarios

Elliott : extension wave down 129.7139.
Market should not go lower than 129.6951. After this move down it should go up to 131.5035 - 131.9020 area.


Elliott : flat correction down 129.2227.
Market should not go lower than 130.4540 - 129.1457. After this move down it should go up to 132.4895 - 133.2167 area.


Elliott : flat correction down 129.9450.
If market stays below 134.0565 a fall to 129.1927 is expected. If market breaks the point 136.2407 it could reach the sky.

minibahn Mafia:
Daily bias is short. EUR/JPY has gone as low as 130.07. It's plausible that the flat correction down has NOT YET completed. There's a confluence of pivots below: DS2 128.97, WS1 129.10 and MoS1 128.99 that attract.


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