General overview for 13/11/2014 06:05 CET
The corrective cycle continues to develop with first purple wave a completed. Currently, the purple wave b is still in progress and when it is completed the possible last wave to the downside will be made - purple wave c. Please notice that the alternative count still indicates a possibly more complex in time, price wave 4 purple (alt:4), and one more leg to the upside. New high above the level of 144.70 would support this view. New high above the level of 144.70 would support this view.
Support/Resistance:
144.68 - Swing Top|Technical Resistance| Intraday Resistance|
144.60 - WR1
143.33 - Intraday Support
143.03 - Intraday Support
142.49 - Weekly Pivot
142.11 - Technical Support | Key Level|
Trading recommendations:
Still the sell orders from the level of 143.68 should be kept open, with SL above the level of 144.68 and TP at the level of 142.11 with a possible downward extension to the level of 141.36.
The material has been provided by InstaForex Company - www.instaforex.com
For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of EUR/JPY for November 13, 2014 . Thanks for your support.
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