Technical analysis of EUR/JPY for November 17, 2015
November 17, 2015 7:40 am
General overview for 17/11/2015 06:40 CET
The weekend retail gap had been completely filled, but after a short rally the market declined again to the level of 131.48, which is intraday support now. Any sustained breakout lower will result in a test at the level of 130.63 and even a possible downside continuation. On the other hand, any breakout above the recent intraday resistance at the level of 132.20 will result in the rally up to the first projected target at 132.80.
Support/Resistance:
130.44 – WS1
131.48 – Intraday Support
131.81 – Weekly Pivot
132.20 – Intraday Resistance
132.36 – WR1
Trading recommendations:
Day traders should place sell orders at the current levels with SL above the level of 132.21 and TP, which is open now.
The material has been provided by InstaForex Company – www.instaforex.com
General overview for 17/11/2015 06:40 CET
The weekend retail gap had been completely filled, but after a short rally the market declined again to the level of 131.48, which is intraday support now. Any sustained breakout lower will result in a test at the level of 130.63 and even a possible downside continuation. On the other hand, any breakout above the recent intraday resistance at the level of 132.20 will result in the rally up to the first projected target at 132.80.
Support/Resistance:
130.44 – WS1
131.48 – Intraday Support
131.81 – Weekly Pivot
132.20 – Intraday Resistance
132.36 – WR1
Trading recommendations:
Day traders should place sell orders at the current levels with SL above the level of 132.21 and TP, which is open now.
The material has been provided by InstaForex Company – www.instaforex.com
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