General overview for 07/10/2014 10:20
The market keeps trading in very narrow range zone between the levels of 136.86 - 1137.94 and only a clear breakout either up or down will give more clues about further wave progression. Please note that despite the bottom for wave B, the market still did not really developed any impassive progression to the upside and this might turn our short-term bias to more bearish one. Support/Resistance:
136.86 - Intraday Support | Wave B Low|
137.68 - Weekly Pivot
137.93 - Intraday Resistance
138.45 - WR1
138.97 - 139.15 - Demand Breakthrough Zone
Trading recommendations:
Market range trading still did not change the outlook and daytraders should pay attention to the mentioned key level as any breakout higher would provide a great opportunity for a buy side trade with SL below the level of 136.85.
The material has been provided by InstaForex Company - www.instaforex.comFor detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of EUR/JPY for October 7, 2014 . Thanks for your support.
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