Technical analysis of EUR/JPY for December 9, 2016
December 9, 2016 11:45 am
General overview for 09/12/2016:
The top for the wave (v) of (3) (blue) has been established at the level of 123.35 and now the market is in a corrective decline of a wave (4) (blue). The most important intraday level is the intraday resistance at the level of 121.93. This level should cap any rally attempts as there is an unfinished wave progression to the downside.The first target for wave (4) is technical support at the level of 118.71.
Support/Resistance:
124.00 – WR2
122.71 – WR1
121.93 – Intraday Resistance
120.89 – Intraday Support
120.62 – Weekly Pivot
119.40 – WS1
118.71 – Technical Support
Trading recommendations:
All buy orders should be closed with profit and the sell orders should be now opened as there is anuncompleted wave progression to the downside.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
General overview for 09/12/2016:
The top for the wave (v) of (3) (blue) has been established at the level of 123.35 and now the market is in a corrective decline of a wave (4) (blue). The most important intraday level is the intraday resistance at the level of 121.93. This level should cap any rally attempts as there is an unfinished wave progression to the downside.The first target for wave (4) is technical support at the level of 118.71.
Support/Resistance:
124.00 – WR2
122.71 – WR1
121.93 – Intraday Resistance
120.89 – Intraday Support
120.62 – Weekly Pivot
119.40 – WS1
118.71 – Technical Support
Trading recommendations:
All buy orders should be closed with profit and the sell orders should be now opened as there is anuncompleted wave progression to the downside.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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