Technical analysis of EUR/JPY for January 15, 2014
January 15, 2014 7:45 am
В General overview for 15/01/2014 07:50 CET
The bottom at the level of 140.49 has been established and the price rebounded impulsivley to the upside. The rebound looks like it is in five waves up so it is correction time now. The Weekly Pivot level В might provide a nice support for the price, and there is one more grey rectangle area that now will act as a support as well. The current target is SUPPLY ZONE between the levels of 143.15-143.31. This area must be broken to confirm the В further bullishness in ths pair.
Support/Resistance:
142.21 – Intraday Support
142.62 – Intraday Resistance
143.06 – WR1
143.15 – 143.31 – SUPPLY ZONE
143.95 – WR2
144.73 – WR3
Trading recommendations:
Buy on dips from the level of 142.21, with SL below the level of 141.99 and TP at the level of 143.15.
The material has been provided by InstaForex Company – www.instaforex.com
В General overview for 15/01/2014 07:50 CET
The bottom at the level of 140.49 has been established and the price rebounded impulsivley to the upside. The rebound looks like it is in five waves up so it is correction time now. The Weekly Pivot level В might provide a nice support for the price, and there is one more grey rectangle area that now will act as a support as well. The current target is SUPPLY ZONE between the levels of 143.15-143.31. This area must be broken to confirm the В further bullishness in ths pair.
Support/Resistance:
142.21 – Intraday Support
142.62 – Intraday Resistance
143.06 – WR1
143.15 – 143.31 – SUPPLY ZONE
143.95 – WR2
144.73 – WR3
Trading recommendations:
Buy on dips from the level of 142.21, with SL below the level of 141.99 and TP at the level of 143.15.
Related Posts: