General overview for 17/04/2014 10:15 CET
The alternate count is getting more probable and if the price trades above the weekly pivot at the level of 140.91, then traders might see another rally, up to the first target at the level of 141.90. This would be the key level for any upside wave development now. On the other hand, a breakout below the weekly pivot means the top for wave 2 or B is in place.
Support/Resistance:
141.76 - 50%Fibo
140. 97 - Intraday Support
140.91 - Weekly Pivot
140.23 - Swing Low
Trading recommendations:
As long as the price is trading above the weekly pivot level, long positions are in favor with SL below the level of 140.90 and TP at the level of 141.90.
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 17, 2014 . Thanks for your support on Technical analysis of EUR/JPY for April 17, 2014
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