General overview for 01/04/2014 09:00 CET
Five impulsive waves to the upside has been finished now, and this pair should continue to decline further to complete wave Y black of the overall corrective structure in wave 4 purple. In case of any upside breakout, the key level is at the level of 143.79 because this would mean the corrective structure is invalidated and alternate bullish count has been confirmed.
Support/Resistance:
143.12 - WR2
142.60 - Swing High
142.47 - WR1
142.35 - Intraday Resistance
142.00 - Intraday Support
141.70 - Technical Support
141.22 - Weekly Pivot
Trading recommendations:
Two possible trade opportunities here for intraday scalpers
- open sell positions if the level of 142.00 is broken with SL above the level of 142.31 and TP at the level of 141.70 and 141.26.
- open buy positions if the level of 142.30 is broken with SL below the level of 142.00 and TP at the level of 142.60 and 143.12.
The material has been provided by InstaForex Company - www.instaforex.com
For detail explanation and best discovery on market trends you may visit via Technical analysis of EUR/JPY for April 1, 2014 . Thanks for your support on Technical analysis of EUR/JPY for April 1, 2014
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