Technical analysis of EUR/JPY for December 28, 2015
December 28, 2015 9:30 am
General overview for 28/12/2015 08:40 CET
The wave c purple in the complex corrective structure hasn’t been completed yet and the new lower low is still being expected in this pair. Nevertheless, any breakout higher above the intraday resistance at the level of 132.77 will be the first clue that wave XX brown might not been completed as well. Moreover, any breakout above the level of 133.76 will invalidate the idea of a complex corrective cycle, so this level is worth keeping an eye on.
Support/Resistance:
129.87 – WS3
130.68 – WS2
131.02 – Technical Support
131.14 – WS1
131.48 – Intraday Support
131.96 – Weekly Pivot
132.44 – WR1
132.77 – Intraday Resistance
133.26 – WR2
133.74 – WR3
Trading recommendations:
Day traders should consider placing sell orders from current market levels with SL above the level of 132.77 and TP at the level of 131.48 and below.
The material has been provided by InstaForex Company – www.instaforex.com
General overview for 28/12/2015 08:40 CET
The wave c purple in the complex corrective structure hasn’t been completed yet and the new lower low is still being expected in this pair. Nevertheless, any breakout higher above the intraday resistance at the level of 132.77 will be the first clue that wave XX brown might not been completed as well. Moreover, any breakout above the level of 133.76 will invalidate the idea of a complex corrective cycle, so this level is worth keeping an eye on.
Support/Resistance:
129.87 – WS3
130.68 – WS2
131.02 – Technical Support
131.14 – WS1
131.48 – Intraday Support
131.96 – Weekly Pivot
132.44 – WR1
132.77 – Intraday Resistance
133.26 – WR2
133.74 – WR3
Trading recommendations:
Day traders should consider placing sell orders from current market levels with SL above the level of 132.77 and TP at the level of 131.48 and below.
The material has been provided by InstaForex Company – www.instaforex.com
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