Technical analysis of EUR/JPY for September 14, 2016
September 14, 2016 8:05 am
General overview for 14/09/2016:
Another upward impulsive rally has been made with the temporary top just above the intraday resistance at the level of 115.94. This impulsive wave progression might be a part of a wave (iii) or, as indicated by the alternative count, it might be wave c of the still developing wave (b). No key level has been clearly violated, so both of the scenarios are equally valid right now. The key level to the upside is at a local swing high at the level of 116. 36 and the key level to the downside is at the level of 113.81.
Support/Resistance:
112.82 – WS1
115.15 – Weekly Pivot
115.47 – Intraday Support
115.94 – Intraday Resistance
116.36 – Local High
116.52 – WR1
Trading recommendations:
Day traders should consider moving the SL in all the buy orders up to the level of 115.45 and still keep the TP open.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
General overview for 14/09/2016:
Another upward impulsive rally has been made with the temporary top just above the intraday resistance at the level of 115.94. This impulsive wave progression might be a part of a wave (iii) or, as indicated by the alternative count, it might be wave c of the still developing wave (b). No key level has been clearly violated, so both of the scenarios are equally valid right now. The key level to the upside is at a local swing high at the level of 116. 36 and the key level to the downside is at the level of 113.81.
Support/Resistance:
112.82 – WS1
115.15 – Weekly Pivot
115.47 – Intraday Support
115.94 – Intraday Resistance
116.36 – Local High
116.52 – WR1
Trading recommendations:
Day traders should consider moving the SL in all the buy orders up to the level of 115.45 and still keep the TP open.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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