Technical analysis of EUR/JPY for October 12, 2015
October 12, 2015 11:40 am
General overview for 12/10/2015 13:05 CET
The wave structure is developing as anticipated with one more wave to the upside needed to complete the wave (iii) green. Currently, the market is in a corrective cycle as the wave iv blue is in progress. Any violation of the level of 135.70 invalidates the green impulsive count.
Support/Resistnace:
137.46 – Projected Target For Wave (iii) Green
136.95 – Intraday Resistnace
136.33 – Intraday Support
136.11 – Weekly Pivot
135.70 – Invalidation Level
Trading recommendations:
Daytraders should consider opening buy orders from the current market levels with SL below the level of 135.70 and TP at the level of 137.46.
The material has been provided by InstaForex Company – www.instaforex.com
General overview for 12/10/2015 13:05 CET
The wave structure is developing as anticipated with one more wave to the upside needed to complete the wave (iii) green. Currently, the market is in a corrective cycle as the wave iv blue is in progress. Any violation of the level of 135.70 invalidates the green impulsive count.
Support/Resistnace:
137.46 – Projected Target For Wave (iii) Green
136.95 – Intraday Resistnace
136.33 – Intraday Support
136.11 – Weekly Pivot
135.70 – Invalidation Level
Trading recommendations:
Daytraders should consider opening buy orders from the current market levels with SL below the level of 135.70 and TP at the level of 137.46.
The material has been provided by InstaForex Company – www.instaforex.com
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