Technical analysis of EUR/JPY for September 10, 2014 Market Analysis Review

General overview for 10/09/2014 10:45 CET

The last chance for the bearish impulsive count is in a double WXY zig-zag count presented on the chart. However, please notice that the level of recent swing high is now a key level, intraday resistance and invalidation level. So, any violation of this level cancels the impulsive count and indicates a possibility of a test of the level of 139.06.

Support/Resistance:

139.06 - WR2

138.25 - Swing High|Key Level|Invalidation Level|Intraday Resistance|

137.50 - Intraday Support

137.42 - WR1 Trading recommendations:

Short orders from yesterday should be closed and traders should wait what market will do with the key level. Any violation is bullish.

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