Technical analysis of EUR/JPY for March 5, 2015 Market Analysis Review

General overview for 05/03/2015 14:00 CET

As it was anticipated yesterday, the lack of impulsive wave progression to the upside was the first sign that the lows of wave X brown might be tested again. Currently, the market is bouncing up after finding support at the level of 132.16. The key level for more gain is the intraday resistance at the level of 133.43. Breakout above this level means the market is back to the range zone, and further gains can be seen even up to the level of 135.02.

Support/Resistance:

132.16 - Intraday Support

132.77 - WS1

133.43 - Intraday Resistance|Key Level|

134.22 - Weekly Pivot

Trading recommendations:

Daytraders and swingtraders should consider opening buy orders only if the level of 133.43 is violated with SL below the level of 132.16 and TP open for now.

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 March 5, 2015 . Thanks for your support.